Mark Newton, a senior analyst at a fund founded by Tom Lee, said in a post on social media platform
Newton lists five main reasons why the current market has not yet peaked.
- The Elliott wave structure has not yet peaked.
- The monthly DeMark indicator has not yet generated any warnings.
- He said that the MACD indicator moves into negative territory during consolidation periods, but this time the signal is not conclusive as there is a lack of a clear five-wave bearish structure starting from the top.
- The medium-term trend is maintained beyond 2022, with gradually increasing highs and lows.
- Market sentiment is far from the overly optimistic levels typically seen before major peaks.
According to Newton, taking these indicators together, it appears that the “top of the market” theory has not yet gained support.
The fund’s president, Tom Lee, argued in an interview with Anthony Pompliano that Bitcoin’s classic “four-year cycle” model may no longer be valid. Lee said many market participants expect Bitcoin’s next peak to be in early 2026, but “when everyone thinks the same way, they’re often wrong.”
*This is not investment advice.
