Bitcoin's new bull cycle high could take weeks after similarities between recent decline and post-halving correction of the 2015-2017 cycle. Bitcoin may have already topped for the current cycle, considering its exponential decay in the past four cycles. Bitcoin on-chain indicators are flagging bearish signs, but potential Fed rate cut could help maintain the bull market play. Bitcoin is up nearly 4% on Tuesday after recovering quickly from Black Monday's crash.
A repost of an @htltimor analysis from Brandt also shared a similar sentiment: Word of warning: technically this looks like we had the cycle top already and not only that: we also had the bigger cycle top. Meaning a lot of the elasticity had gone out of the PA. You can see that from the decreasing RSI at each high. pic.twitter.