Five shocking parallels between the 2017 cycle and the current one 😱

Five-shocking-parallels-between-the-2017-cycle-and-the-current-one

It's very interesting to compare the current price action with the price action from the past. While analyzing, my attention was drawn to a comparison between the price action in 2017 and the current price action.

In both cycles, the events are similar. It started with a period of sideways (6k-range and 20k-range), after that period there was a massive breakdown (3k in 2017, 16k in 2022). Again; there was a period of sideways, until the price has pushed higher. And again; a period of sideways took place (this is where we are currently).

For this moment, the most important thing is that a period of sideways (which BTC is currently doing) is followed by a strong rise from the bottom. In 2017, it was just a temporary re-accumulation period, after which the price rose strongly again. If you assume that parallels between both cycles continue, this is the expected outcome of the current period of sideways price action.