Bitcoin (BTCUSD) is now cruising on the Bull Cycle's most aggressive phase, the Parabolic Rally. We got the final confirmation as it broke above and now established the 1st Standard Deviation from Above (grey trend-line) of the Mayer Multiple Bands (MMB) as the new Support.
Having already broken above the previous All Time High (ATH) Resistance, every time BTC flipped the 1st SD into Support while above the ATH, it hit at least the 2nd SD (orange trend-line) before the Cycle Top was priced. This level is currently at $181700 but rising along with the trend
What adds a more specific dynamic to the potential Cycle Top though, is that during Bitcoin's 11-year Higher Lows trend-line growth, it posted rallies of at least +1719% on each Cycle. As the Cycles progressed and due to the Law of Diminishing Returns, this rally started lower each time.
This shows the great significance of this rally and as a result, on the current Cycle with can estimate from its very bottom (November 2022). This suggests that we can reach at least $250k before or around the time the 2nd SD is tested. In addition, all Cycles have topped after the 1M RSI makes contact with its historic Lower Highs trend-line.
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