BTC/USD 27/01/2021 - Power Law Channel & Volume Profile
Based on the power law channel we still haven’t entered a bearish market as seen in 2018 and 2020.
Based on the volume profile POC for the 2018 run up, the percentage between peak volume and the bear cycle bottom was 164%.
Using this same theory, we can apply the same percentage to the current bull cycle volume profile POC to equate a rough bear market bottom of 25K.
A
25K bottom would fit within the extension of the channel painted in yellow, so would also be plausible from that perspective.
On chain data suggests large orders are currently placed at $30 - 32K, so that could also be our bottom.
Given the FED are likely to raise interest rates from March 2022, I would expect a cycle bottom if this theory pans out in roughly Q2/Q3.
Based on the volume profile POC for the 2018 run up, the percentage between peak volume and the bear cycle bottom was 164%.
Using this same theory, we can apply the same percentage to the current bull cycle volume profile POC to equate a rough bear market bottom of 25K.
A
25K bottom would fit within the extension of the channel painted in yellow, so would also be plausible from that perspective. On chain data suggests large orders are currently placed at $30 - 32K, so that could also be our bottom.
Given the FED are likely to raise interest rates from March 2022, I would expect a cycle bottom if this theory pans out in roughly Q2/Q3.
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