In his new video review, Rekt Capital analyst presented a detailed analysis of the current bitcoin($BTC
cycle. According to him, the parabolic growth phase, which started just three weeks ago, may last another 300 days. This opens up exciting prospects for the crypto market.
Anatomy of growth
After eight months of tedious consolidation, bitcoin is finally showing signs of awakening. And if you think that you are already late for this celebration of life, relax. We are only at the beginning of the parabolic phase, which usually lasts about a year.
Historical data shows a clear pattern:
-- The bear market lasts about a year (360-390 days)
-- The accumulation period can last for a year and a half
-- There are 3 major corrections in the parabolic phase
-- Each subsequent correction becomes shorter than the previous one
What awaits us ahead
In 2021, the first growth phase included 10-11 weeks of continuous upswing with two minor drawdowns. This was followed by a correction lasting 2-4 weeks.
The most interesting thing is that with the development of the correction cycle, they become more and more superficial. This indicates an aggressive buyout of any drawdowns by large players in the late stages of the parabolic phase.
Action strategy
Now we are witnessing the formation of new weekly support and resistance levels. Each weekly candle has characteristic lower shadows — this is a normal phenomenon within the framework of an uptrend.
The first and second corrections in the parabolic phase provide the most favorable opportunities to enter the market. But the third correction will be the shortest and shallowest — but at the same time the most risky.
The fourth correction? Congratulations, this is already a bear market that will last for a whole year.
It's "buy drawdown" time and altcoin season on the market right now. Then the first correction of the parabolic phase will come — one of the most successful moments for buying both bitcoin and altcoins