Most signs point out that this cycle is a combination of 2013 and 2017. Therefore, it is likely that the duration of the consolidation phase is also in between the two. We had 174 days in 2013 and 55 in 2017. We are only 30 days in (or 61 if you count from March 13th). 
Another month at the very least (even 2) would be totally normal! Initially I drew path A but maybe path B might be more likely now. This also aligns with an RSI monthly close below 90 (more on this below).
How deep can we go? I initially expected a dip to max ~43k but as low as 38k would not break market structure. 38k is unlikely as this implies > 37% drop. We didn’t get 43k in the last dip, will we now? We might but I wouldn’t count on it, we haven’t seen this kinda volatility.
Why an RSI below 90? Each previous cycle we had a monthly close below 90. To close below we need to end the month at a max price of 57k. Will we close below RSI 86 (low of 2017) and above RSI 71 (low of 2013)? It's in between previous cycles.
https://twitter.com/therationalroot/status/1388492324347523076?s=20
‘Average in’ during this whole consolidation phase seems like the strategy to go.
Don’t fall for the fud, also this will pass.
(not investment advice)
Don’t fall for the fud, also this will pass.
(not investment advice)
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