BTC hasn't reached out to its full fib extension i.e 4.236 that lies in 76k region
We have have a very similar fractal from November 2013 that has played out very similarly where BTC pulled back about 50% before its peak and that would take btc to about 80k.
IMO BTC will peak between 75 and 85k price range.
The correction we're seeing is very similar to what we observed in September 2020 correction where BTC had a abc correction and the recovery was very slow and painful !!!
At the end of both bull runs 2013/2017, we saw euphoria among retail traders ,there was an alt season ,this time we didn't saw any !!!
LTC which participated in the previous 2 bull run has always peaked a little before or at the same time as bitcoin , this time we saw Litecoin got a massive pullback from its previous ath which is very common for ltc as it always pulls down 60-70% from its previous ath before its major move in every bull run.
Hence I believe LTC (& other alts also) is yet to make some explosive moves in this market cycle as we're approaching the very end of it.
At the same time we're seeing increasing exchange outflows which point out large scale accumulation by big whales.
So this all points that BTC has not peaked yet in this market cycle!!!
I believe that BTC will find a bottom near the 14k price in the next bear market.
NFA !
DYOR!
We have have a very similar fractal from November 2013 that has played out very similarly where BTC pulled back about 50% before its peak and that would take btc to about 80k.
IMO BTC will peak between 75 and 85k price range.
The correction we're seeing is very similar to what we observed in September 2020 correction where BTC had a abc correction and the recovery was very slow and painful !!!
At the end of both bull runs 2013/2017, we saw euphoria among retail traders ,there was an alt season ,this time we didn't saw any !!!
LTC which participated in the previous 2 bull run has always peaked a little before or at the same time as bitcoin , this time we saw Litecoin got a massive pullback from its previous ath which is very common for ltc as it always pulls down 60-70% from its previous ath before its major move in every bull run.
Hence I believe LTC (& other alts also) is yet to make some explosive moves in this market cycle as we're approaching the very end of it.
At the same time we're seeing increasing exchange outflows which point out large scale accumulation by big whales.
So this all points that BTC has not peaked yet in this market cycle!!!
I believe that BTC will find a bottom near the 14k price in the next bear market.
NFA !
DYOR!
