【Mystical Carving Series】Carving the Final Market Trend of BTC Bull Run——

The bottom of this pullback is carved at the end of June

The top of the next market trend is carved in mid-August

The bottom of the next pullback is carved at the end of August to early September

The final bull peak is carved in mid-September to mid-October

The black line in the chart represents BTC: MVRV index for the ⟨20 years to present⟩ period; the blue line represents BTC: MVRV index for the ⟨16-21 years⟩ period; the red line represents BTC: MVRV index for the ⟨12-17 years⟩ period. The three lines align with the halving dates of BTC mining output for each respective cycle

Note: MVRV (Market Value to Realized Value) refers to the ratio of Bitcoin's total market value to its total acquisition cost.