Bitcoin 12 Month Candles

2020년 11월 12일

Looking at the 12month candles we can see a pattern emerge , if we take a measurement from the wick of the of the previous all time high candle in 2013 down to the close of candle of 2016 you get a candle that closed 17% from the previous halving top , if history repeats itself then the yearly candle would close just above 0.236 fib at around 16800.

Yearly Candle Mirrors

2014 = 2018
2015 = 2019
2016 = 2020
2017 = 2021

The yearly candle of 2017 as well is important since it can show us a potential bottom for next year will it hit the 0.382 fib like last time , if so that would be a bottom of 12745 for 2021.

Does the cycle repeat? or does the theory of lengthen cycles come into play only time shall tell , one thing is for sure that the stock to flow is playing out exactly the same as last cycle.

lookintobitcoin.com/charts/stock-to-flow-model/