Bitcoin has just set a new record for the time spent in a mid-cycle consolidation phase between market cycle peaks.
It has been in this phase for eight months, according to technical analyst ‘CryptoCon,’ who added that this cycle is still playing out the same as previous ones.
The analyst has used Fibonacci retracement levels to split market cycles into different phases.
“This sandwich between phases 2 and 3 is served up cold every cycle, creating long sideways periods,”
Don’t worry you’re not crazy… #Bitcoin has been going sideways for a long time.
In fact, we just set a record for the most time spent in phase 2 at now almost 8 months!
But can you see that this time still isn’t different?
There was a cycle that was different, it’s called… pic.twitter.com/f3IX1GepyW
— CryptoCon (@CryptoCon_) October 15, 2023
Sideways Cycle Sandwich
Bitcoin has been trading sideways since March, which was when it moved from the bottom phase to the transition from the low s
We współpracy z: https://cryptopotato.com/bitcoin-still-sideways-but-cycle-patterns-remain-on-track/
