Bitcoin Rally Similarities - Is This The Peak?

The recent rally in Bitcoin is strangely similar to the rally that took place in 2017. Although the range of price throughout the rally is somewhat different, the structure of price throughout the rally phase is very similar. Our researchers believe this similarity suggests a peak may be forming in Bitcoin and the big volume on Monday, December 21, 2020, may have represented a “blow off peak” in price.

Bitcoin 2017 Peak Structure

The following Weekly Bitcoin chart highlights the three rally phases that took place before the peak level was reached in December 2017. Pay very close attention to the structure you are seeing on this chart and the highlights we’ve made to help you understand how the price structure is being mirrored in the current rally phase....Read More Here.

Bitcoin Rallies Above 20k Targeting 23k or Higher

In an incredible display of support, Bitcoin rallied above $20k early in the morning on December 16. This upside breakout move coincided with a very strong Fibonacci Price Amplitude resistance arc originating from the low price level near March 20th. The implications of this upside breakout suggest Bitcoin may continue to rally higher targeting levels just above the $23k level ($23,150).

Cryptos are experiencing a price rally that is similar to what happened in 2016 and 2017. The enthusiasm for these decentralized alternate assets continues to climb as traditional hedge assets, like Gold, Silver, and others, have stalled recently. What we find interesting is the correlation between Bitcoin price advances and Precious Metal price cycles.

Price Energy Waves Align Near December 28th, 2020

Our latest research article suggests the long term US stock market cycle has transitioned into a Depreciation phase – where US stock market price levels are likely to trade in extremely volatile, possibly sideways/downside, trends over the next 5+ years. If our research is correct, global investors will search for assets that buck this trend in an attempt to seek out greater Alpha....Continue Reading Here.

Bitcoins Next Stop? $14,000 or $37,200

After the incredible rally in Cryptos recently and my team’s recent research articles about how to spot a “Blow-Off Peak”, the recent downturn in Bitcoin prices has raised a valid question – is this the start of a new “Blow-Off Top” for Bitcoin? In our recent 2-part research article on Blow-Off Tops, we suggested there are five phases to a Blow-Off top setup. 

The first is an incredible rally attempt – usually somewhat similar to a parabolic price advance. We can certainly say that Bitcoin has seen a huge price advance from near $4000 in early March to over $19,000 recently (+$15,000). Is this it? Is this a major price peak or will it continue higher?

When taken in the context of what has transpired over the past 12+ months with COVID-19 and various global lock downs, it does make sense that many more displaced workers across the globe may have become actively involved in Cryptos and alternate assets. It also makes sense that a rush into the recent upside trending in Bitcoin, starting near early October 2020, may have prompted a rush for Crypto traders/investors. Everyone loves it when their investments rally 80% or more in less than 60 days.

Yet the question remains – will Bitcoin go higher or is this the intermediate-term peak in price? Historically, the recent highs are similar to the highs set in December 2017: $19,666 in December 2017 vs. $19,490 in November 2020. Technically, this is a Double-Top setup....Continue Reading Here.