Mark Newton, a senior analyst at a fund based by Tom Lee, mentioned in a submit on social media platform
Newton lists 5 most important explanation why the present market has not but peaked.
- The Elliott wave construction has not but peaked.
- The month-to-month DeMark indicator has not but generated any warnings.
- He mentioned that the MACD indicator strikes into unfavorable territory throughout consolidation intervals, however this time the sign will not be conclusive as there’s a lack of a transparent five-wave bearish construction ranging from the highest.
- The medium-term development is maintained past 2022, with steadily rising highs and lows.
- Market sentiment is way from the overly optimistic ranges sometimes seen earlier than main peaks.
In accordance with Newton, taking these indicators collectively, it seems that the “high of the market” concept has not but gained help.
The fund’s president, Tom Lee, argued in an interview with Anthony Pompliano that Bitcoin’s traditional “four-year cycle” mannequin might not be legitimate. Lee mentioned many market members count on Bitcoin’s subsequent peak to be in early 2026, however “when everybody thinks the identical method, they’re usually fallacious.”
*This isn’t funding recommendation.
