Compared to the previous cycle, we may currently be at the level of January 4, 2021 (see the yellow arrow in Chart 1).
If this is the case, we may face a period of volatility. In the previous cycle, prices fell by 55% over two weeks of decline. While I am not saying this will happen again, it is important to lay all the data on the table.
Ideally, it will end on December 9. If not, we may see a window between December 9 and December 23, 2024.
If the chart from the previous cycle repeats exactly, we might see $2.8 between December 9 and December 23. However, it is really hard to imagine what could trigger such a huge fluctuation, so it is advisable to stay calm.
The conservative plan suggests that within this timeframe, a reasonable range is $1 to $1.45 (twice the previous high price).
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