Chart first, then I’ll explain how I’m interpreting it…

1 – The ‘arc’ is complete. All that remains is the final surge to touch the old highs.

2 – The 8 year cycle is clear and the next low is due anytime from around late 2023 (when does the descent into that low begin ?)

3 – The volume indicator (doesn’t matter how it works) – blue and red lines oscillate, but don’t really cross in a bull market.

4 – The volume indicator is approaching the extreme prior to a major pullback, but the red line hasn’t quite hit the ‘extreme zone’ yet.

5 – MACD is in long term bull mode

6 – Stoch hasn’t quite hit the red line associated with bull market interim peaks, but it will soon

Putting all of this together, along with current sentiment and fundamentals, leads me to believe we have the conditions suitable for a final push to the old highs. I think we’ll arrive there with very stretched indicators suggesting a sizeable consolidation/pullback is likely. I expect the bears to come out (yet again), with calls for $1000 (yet again). They will be wrong (yet again). It will be a great time to take profits and sell many positions if you want to, knowing that you can get back in at lower levels.

I know some are expecting the move to just go straight past $2000 and head towards $2500/$3000 without any major pullbacks. At this point, I don’t think that is the most likely outcome. I wouldn’t say it’s impossible though, just unlikely.