Hence, it is not a reason to panic if we get a strong drop, as that has not invalidated the signal historically. What has NEVER happened is that the price moves below the previous low.
If that happens, then this signal will no longer be valid, and that would imply a tectonic shift in a long-dated structure that has held up quite well since 2015. We give that scenario pretty low odds, as crypto adoption is at its highest point in history right now.
Wall Street is frantically incorporating cryptos everywhere they can, and top asset management firms had been launching new ETFs every month before this bear market started. The SEC is now a crypto-friendly entity and even the President of the United States supports crypto, and so on.
In the previous three occasions, BTC rallied by 9,700%, 2,100%, and 563% off its cycle lows. What to expect now? We see BTC rallying by 200% to 400% over the next 12 to 36 months, meaning that the top crypto could hit $320,000 at some point.
No Buy Signal in the Daily Chart Yet But Breakout of $77K Resistance Seems Imminent
Heading to the daily chart, we can see that BTC’s uptrend remains intact. The token has managed to stay above the $77,000 mark, which was a former ceiling, and it seems to be moving toward retesting the $80,000 mark.