Bitcoin's Bull Run: Analyzing the Overlooked Cycle Pattern 👇👇
1. Historical Pattern Observed: Bitcoin has shown a consistent pattern in its market cycles. Each cycle begins with a market peak, followed by a steep bear market, then a bullish engulfing candle signals the start of a new bull run.
2. Cycle Breakdown:
First Cycle: Approximately eleven years ago, Bitcoin experienced its first significant peak. A bearish phase ensued, but a bullish engulfing candle marked the end of the downturn. Four candles later, Bitcoin hit an all-time high.
Second Cycle: This pattern reappeared, with another bear market concluding in a bullish engulfing candle, followed by a new peak four candles later.
Third Cycle: The 2021 bull run mirrored these events, followed by a bearish phase and the appearance of the familiar bullish signal, suggesting a potential all-time high in the upcoming cycles.
3. Current Position: We are currently in the third candle following the most recent bullish engulfing pattern. If the historical cycle holds, the fourth candle may indicate a new high.
4. Outlook for Bitcoin Holders: The alignment of these signals suggests that Bitcoin could be on the cusp of another major rally, potentially achieving record levels within the next few months.
For those invested, monitoring this cycle could be crucial, as the coming months may present significant developments aligned with Bitcoin’s recurring market pattern.