These charts show a correlation between the Double Bull Runs of 2012-2013, and the potential Double Bull Runs of 2017-present. I began by laying a fibonacci graph over each bull run and identifying various similarities between the past and present.
Set Up: The 1.00 level starts at the lowest support/resistance in the bear run leading up to a bull run, which was usually near the ATL . Once the price broke this strong resistance it marked the beginning of a bull run. The fibonacci graphs end at the ATH , but it at the 0.236 level, not 0.0. The reason why I end the graphs at 0.236 are due to Elliot Wave patterns. With the ATH at 0.236, the fibonacci trend-line touches a crucial point just below the ATH: The B-Wave of the corrective ABC pattern. Basically, this is where the price recovers immediately following an ATH .
This lowest resistance to highest resistance fibonacci graph was applied to all four bull runs; two from 2012-2013, the most recent in 2017, and 2019 which is likely another major bull run.
Let's break it down: I will assign each bull run a name to make my life easier. They move in chronological order; 2012 is Bull Run 1, 2013 is Bull Run 2, 2017 is Bull Run 3, and the new expansion in 2019 is Bull Run 4.
Two significant fibonacci levels in first bull runs of each pair are 0.5 and 0.236. The 0.5 levels in Bull Run 1 & Bull Run 3 mark significant support levels near the ATH . They rest at either the A-Wave or B-Wave of the corrective ABC pattern immediately following the peak. The 0.236 level, as mentioned before, marks the ATH (peak) of Bull Run 1 & Bull Run 3.
Notice: Those two levels from the first bull runs of each double pump (so Bull Run 1 & Bull Run 3) match up with critical points in the future bull runs (Bull Run 2 & Bull Run 4).
Analysis: The 0.5 level from Bull Run 1 marked the END of the first expansion in Bull Run 2. Likewise, the 0.5 level from Bull Run 3 marked the END of the first expansion in the current bull run (Bull Run 4). Where Bull Run 2 & 4 hit the previous 0.5 level is highlighted in purple. Note: The first expansion in Bull Run 4 is the recent $13,800 level.
In conjunction with this, the 0.236 level from Bull Run 1 (the ATH ) coordinated with the 0.786 level in Bull Run 2. Likewise, the peak from Bull Run 3 was the same as the 0.786 level in Bull Run 4. Again, where the new bull runs (2 & 4) intersect the previous bull runs' (1 & 3 ) 0.236 levels are highlighted in purple.
Interesting occurrence I wasn't expecting... In Bull Run 2, the price diverges (falls below) from the Bull Run 1's 0.5 level in a sharp red flag. Once this flag recovers it then proceeds to break through the 0.5 level and climb all the way the previous 0.236 ( AKA the new 0.786) in a second expansion.
Interestingly, this same divergence from the 0.5 level also occurred in the Bull Run 3 & 4 pair. Bull Run $ has just diverged from the 0.5 level from Bull Run 3. This was the recent break below the $10,000 support in late September 2019.
I find this very intriguing as the price skyrocketed in Bull Run 2 after diverging from Bull Run 1's 0.5. Bull Run 2 then touched its 0.786 level (the old 0.236 or ATH ). I believe this will likely happen in Bull Run 4 toward the end of 2019. Bull Run 4 has touched Bull Run 3's 0.5 level ($13,800), diverged from 0.5 (break below $10,000), and will probably go for the new 0.786 level ( AKA the old 0.236, ATH , $20,000!).
Prediction: Bitcoin will head for the new 0.786 level starting in late October/early November. It will reach Bull Run 3's ATH of ~$20,000 in approximately January 2020.
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