On January 11, 244 days after the Bitcoin halving, the market experienced a painful plunge, just like now.
Bitcoin lost 30%, and DOGE was already unbearable, falling 55%. Bear markets were everywhere, and people were fleeing them like they were fleeing the devil... Then, all of a sudden... January 25th took the stage.
⚠️ But wait! This is not financial advice; it's just an observation. Everyone is free to do what they like and feel comfortable with. I'm not saying it has to happen exactly this way. DYOR!!
As we delve deeper into the bull market phase, it is crucial to enhance our acuity, draw inspiration and imagination from various sources, and better understand the complex nature of the crypto space.
Below is a comparative analysis between #BTC☀️ and #TOTAL3 (which best represents the index of altcoins).
We can observe a significant similarity — it seems that the same pattern is repeating now, but on a larger scale.
Based on last year's model, it is easy to infer our current position and what might happen next. Similar to the chart of #Bitcoin, the RSI of TOTAL3 also confirms this pattern.
However, unlike Bitcoin, there are some subtle inconsistencies in the pattern repetition of TOTAL3. Nevertheless, at this scale, I believe these can be disregarded.
We have passed a 35-day yellow zone sequence, and the RSI indicator has been above point B2 for several days now (see blue arrow).
💡 Last year, TOTAL3 followed a trend line. This year, in the initial 35 days, it is also running along a trend line, but with a steeper slope. This indicates that we are in a market acceleration phase (the so-called “banana zone”), which is characteristic of a bull market. If the chart continues to follow the trend line and repeats the 42-day time series, by January 20 next year, TOTAL3 could reach $1.73 trillion. This does not necessarily signify the end of the bull market, but rather a very important stage that we will discuss in future analyses.
I am not saying that things will necessarily develop in exactly the same way, but it is quite possible that it will follow last year's model. Do not blindly replicate — process this information through your own knowledge filter and see if it aligns with your models and the strategies adopted for this bull market.
Trump: We're going to do something great with crypto
Trump asked Jim Cramer to interview him at the New York Stock Exchange.
Donald Trump: "We're going to do something great with crypto because we don't want other big countries to take the lead, other countries are embracing it, and we want to be the leader."
Trump rang the bell at the New York Stock Exchange: The stock market is everything
After being named "Person of the Year" by Time magazine, Trump rang the opening bell of the New York Stock Exchange and said: "The stock market is everything"; "Some great things will be done in the field of cryptocurrency."
President Trump became the first president since Ronald Reagan to ring the opening bell of the New York Stock Exchange!
After the second occurrence of 8 consecutive weekly gains in history last week (the first 8 consecutive gains happened in the final phase of the bull market in 2017, starting to rise in November and peaking in January, astonishingly increasing by 1750%. This time, we are in the early stage of a bull market, and the 8th green week will end with a relatively "mild" increase of 335%).
This week we have encountered red bars, and we may see a consolidation lasting 1-3 weeks, which is good as it is happening!
ATH (All-Time High) could possibly be achieved by the first half of January at the latest.
⚠️ This is not financial advice, DYOR!
Image source: @btc_MasterPlan
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#doge⚡ The weekly chart has already had 8 consecutive bullish weeks. Today is the first day of the week, and we have seen a pullback. To be honest, I would prefer to see a pullback sooner, as it would be more beneficial for the later trend. (The more it falls, the more excited I get!)
As can be seen from the RSI indicator (which is obviously just a single incomplete basis), it has been above 90 for 5 consecutive weeks, indicating severe overbought conditions!
Although today's decline has led most KOLs to turn bearish, I personally still believe that #DOGE will reach new highs this year, likely when no one expects it.
The 91-day pattern has failed, and a cooling-off period may take its place!
Today is the second day of the week, and there is still some time until the end of this week. If there is at least one red week, it will be more favorable for future trends.
Do not use leverage; for ordinary people, leveraged contracts will only lead to quicker exits!
#doge⚡ The weekly chart has already had 8 consecutive bullish weeks. Today is the first day of the week, and we have seen a pullback. To be honest, I would prefer to see a pullback sooner, as it would be more beneficial for the later trend. (The more it falls, the more excited I get!)
As can be seen from the RSI indicator (which is obviously just a single incomplete basis), it has been above 90 for 5 consecutive weeks, indicating severe overbought conditions!
Although today's decline has led most KOLs to turn bearish, I personally still believe that #DOGE will reach new highs this year, likely when no one expects it.
The 91-day pattern has failed, and a cooling-off period may take its place!
Closing this week in green marks the 8th straight week of gains – something that has only happened once before (the first was in the final stages of the 2017 bull run, which began in November and peaked in January with an incredible gain of 1750%.)
This time around, we are in the early stages of the bull run, and the 8th green week will end with a relatively “modest” gain of 335%.
The arrows in the chart below mark the entry points into the bull run, making it easier to compare time frames.
The 91-day sequence scenario has failed.
The chart only touched the green trendline and failed to break out to yellow or orange.
Statistically, this is not the most favorable configuration at this time (in my opinion).
Overlay the DOGE chart from the last cycle (when it first interacted with the green trendline) onto the current cycle for comparison.
In the last cycle, it took 25 days of consolidation before a clear breakout occurred. If history repeats itself - which I personally believe it will - we are on the verge of a major move.
🥳The good news?
We have entered the green trendline and consolidated for 21 days. This means that, perhaps in just 3-4 days, we can see the rally reach the next level. 🚀
Since I am not a master at setting price targets, I leave it to you to tell me where do you think the price of#DOGEwill settle by December 15th? Will it reach the yellow level, the orange level, or somewhere in between? 😉