/biz/ - Business & Finance

Good evening frens. I saw a few interesting similarities in the charts of the 2017 run and the beginning of this current run. The three descending wedges become increasingly more steep in a smooth way, not jumping too quickly from one to the next. The wedges also become more triangle like before the major pumps began.
At the bottom of each wedge, you can see that the RSI tests a support that is not broken until #4 which is when the market crashed. The RSI support is currently being tested, however I believe it will hold because of the similarity in the MACD histogram of the final wedge before liftoff. It seems to be showing a half dome shape that will turn green again very quickly. The RSI support will hold and then head to new highs afterwards.

Currently, the market is still growing faster than it was in 2017, with a 1370% increase over 134 days, as compared to a 426.17% gain over 214 days. We can compare those rates again in another 80 days. The bullrun is nowhere near over.