Bitcoin Halving Over, Let The Run Up Begin – Crypto Piece
2024 Is The Crypto year
2024 is the year where being out of Cryptos is significantly more costly than being in it from an opportunity cost standpoint. Bitcoin recently breakdown from its contracting triangle, but managed to hold the range, where the line in the sand (for a deeper pullback) lies around $60k. This, in our opinion, is a very bullish development, especially when periods around the halving have typically seen much sharper pullbacks in the previous crypto cycles. The key level to reclaim at this point for another big move up is the sweet $69k region!
Fractal + Intermarket Analysis
This is an interesting fractal pattern that we wanted to highlight because this kind of a structure played out in 2017, 2021 and seems to be playing out in 2024 as well. Notice anything about those numbers? Each one is 4 years apart and when you add up each one it ends up being a Fibonacci number (2 + 0 + 1 + 7 = 10 = 1; 2 + 0 + 2 + 1 = 5; 2 + 0 + 2 + 4 = 8). Coincidence? One might think so, but not people who believe in Cycles and patterns! This is shaping up to be an extremely bullish year for Cryptos and we stand behind this with extremely strong conviction.
Another interesting point to note is the similarity in the setup of Dow Jones and its RSI from 2016/2017 to today. Back in 2017, this happened when Bitcoin was battling its previous ATH. Today, we’re once again in a similar situation. Our bet is that this ends up with Bitcoin breaking into a parabolic run-up, just like it did in 2017 (not the same run, but the same outcome).
Our paid members are in for a treat in this article!
We’re going to look at a Not To Miss On-chain chart that’s signaling something big and something very important
Our members are also going to get a look at our modified Cycles Forecast for Bitcoin and Ethereum. When we say modified, not only have we fine-tuned our ongoing Cycles Forecast lines (Cycles Composite – Blue line, Energy Cycle – Pink line, and Seasonal Cycle – Green line), we have also added another Cycle line that we’re calling “Long Cycle” – Dark Purple line because it’s a slower moving Cycle that complements the other 3 Cycles
Lastly, we’ll also take a look at the Bitcoin Dominance and the altcoin market because there are some signals that are starting to go off that cannot be ignored
Check out our Q2 2024 Cycle Forecasts here: https://cyclesedge.com/