Bitcoin dominance surge to 70%

On the above 10-day chart Bitcoin dominance is plotted over the last 4 years. Could talk about this chart for hours. Sparing you from that, here’s the highlights:

1) The Elliot impulse wave and following corrective wave from 2018 to present day. BTC.D is now starting a new impulse wave.

2) The falling wedge + breakout. The flagpole extension measures a target to 70% dominance.

3) BTC.D reclaims the 10-day/21-week bull market support band. (Yellow line / Purple circle). Look left. Every time this happens price action goes to the preverbal moon.

4) Bitcoin prints a new all time high every two years. We’re currently in the accumulation year. Therefore we CAN expect a re-test of the all time high again during 2022. Moreover, in 2023 a new all time high is very probable.

5) What will the new all time high be? I don’t know. However there’s a clue in the weekly log growth curve chart (below). Price action is printing within a falling wedge pattern. A measured move from the flagpole extension puts price action into the $250k area by the end of next year with ease.

6) But price action might go to $20k! or $14k! Did you even read points 1 to 5?!

Ww


Weekly log growth curve

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PS: not that I'm a betting person, but I'd put a bet we're not going to see a recession until this new all time high is printed. Everyone is talking about one, and sure it's in the post but not yet.

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