Bitcoin Growth Cycle — Analyzed
What can we say based on the chart above? Two things:
1) The growth is happening in the same structure: consolidation below the resistance —> breakout —> first wave of growth —> small consolidation —> second wave of growth
2) Each wave of growth is shorter and weaker than the previous one (sign of upcoming correction).
At the moment we are witnessing the stage between the first wave of growth and consolidation. More likely the top of this local cycle is ~$74,000.
