I feel like we’ve seen this before…
Here is the chart of Bitcoin. Uptrend, Consolidation, Breakout, Uptrend Consolidation, Breakout, Uptrend Consolidation…
If this were one of those tests you took in grade school where they ask you what’s next in this pattern, you would say Breakout and then Uptrend right?
Yea that’s what I’m gonna go with.
It hasn’t done much since breaking out above 10,000. But if we’re above that, this is a long for sure I think.
You math majors can go back and do the calculations on the % appreciation from those breakouts up to their eventual cycle peaks.
But the way I see it, even just a fraction of that sort of behavior can be a game changer for the portfolio. And that’s enough for me.
Where do I have this wrong. What am I missing?