2017 vs 2022 (Part 2)
Expending on the previous TA .
Market structure same as MId cycle 2017 :
2017
40% pullback
Lower High
Descending Wedge
Bounce off Fib log
2022
40% pullback
Descending Wedge
Bounce off Fib log
As of this moment technically still a lower high with the last swing closing at 40700 (Yellow Circle) , at the moment no daily close under 41000 so for now we still have a lower higher.
Pretty amazing that the 2017 cycle before entering the last phase of the bull-run created a descending wedge pattern with a 40% pullback a mirror of what is it going on right now .
Its obvious that the are cycles lengthening but what part of the cycle is actually lengthening? It could be that the mid cycle pause each bullrun has is lengthening because the run up from October 2020 to January 2021 was in fact faster than the 2017 run so is it possible that just this mid cycle period lengthens this whole pattern in 2017 took 160 days to play out and now we are at day 350 with this pattern double the time so far.
If this is the case , it is possible that the last phase be just as parabolic as October 2020 or even more than the last phase of 2017.
If we do reverse here and start the last phase it will be extremely short burst of massive momentum peaking sometime May 2022
Market structure same as MId cycle 2017 :
2017
40% pullback
Lower High
Descending Wedge
Bounce off Fib log
2022
40% pullback
Descending Wedge
Bounce off Fib log
As of this moment technically still a lower high with the last swing closing at 40700 (Yellow Circle) , at the moment no daily close under 41000 so for now we still have a lower higher.
Pretty amazing that the 2017 cycle before entering the last phase of the bull-run created a descending wedge pattern with a 40% pullback a mirror of what is it going on right now .
Its obvious that the are cycles lengthening but what part of the cycle is actually lengthening? It could be that the mid cycle pause each bullrun has is lengthening because the run up from October 2020 to January 2021 was in fact faster than the 2017 run so is it possible that just this mid cycle period lengthens this whole pattern in 2017 took 160 days to play out and now we are at day 350 with this pattern double the time so far.
If this is the case , it is possible that the last phase be just as parabolic as October 2020 or even more than the last phase of 2017.
If we do reverse here and start the last phase it will be extremely short burst of massive momentum peaking sometime May 2022
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