The long term support has held. It should be upward movement (in general) on month over month basis until we max out in Oct 2020. I'm expecting us to break $20k in March or April.
This cycle is moving faster than the previous cycle. On average it is taking 37% less days to achieve repeating long term technical patterns. For example using monthly candles:
From 2013 ATH to the down trend break out in Sept 2016: 1035 days
From 2017 ATH to similar down trend break we are seeing now: 761 days (26.4% less days than previous cycle)
2015 Bottom to the same down trend break out mentioned above: 609 days
2018 Bottom to down trend breakout: 396 days (34.9% less days)
2015 Bottom to bullish weekly MA crossover (labeled GO in purple): 304 days
2018 Bottom to bullish weekly MA crossover (2nd GO on chart): 151 days (50.3% less days)
Average less days from above samples: 37.2%
From this projecting outward:
2013 Bottom to 2017 ATH: 1065 days
2018 Bottom to next ATH: 668 (Oct 2020) 37% less days
This cycle is moving faster than the previous cycle. On average it is taking 37% less days to achieve repeating long term technical patterns. For example using monthly candles:
From 2013 ATH to the down trend break out in Sept 2016: 1035 days
From 2017 ATH to similar down trend break we are seeing now: 761 days (26.4% less days than previous cycle)
2015 Bottom to the same down trend break out mentioned above: 609 days
2018 Bottom to down trend breakout: 396 days (34.9% less days)
2015 Bottom to bullish weekly MA crossover (labeled GO in purple): 304 days
2018 Bottom to bullish weekly MA crossover (2nd GO on chart): 151 days (50.3% less days)
Average less days from above samples: 37.2%
From this projecting outward:
2013 Bottom to 2017 ATH: 1065 days
2018 Bottom to next ATH: 668 (Oct 2020) 37% less days