How to read
- Yellow solid and dash are this climb's average and peak from its start through that day. They freeze after the high.
- Cyan solid and dash are the finished previous climb.
- Climbs split on a 1-sigma 30-day reversal from trailing 4-year volatility. A lower high stays in the correction, and the next climb starts at that correction's lowest close.
- A gray triangle is a climb's start and a gray circle is its high. Zoom in to read dates where climbs sit close together.
- A red wash means the average so far and the peak so far are already both at least 3× the previous climb. A purple wash means both are already below it.
- The dotted band runs from the high to the day price is 30% under it, or through 21 days for a climax and 60 days for a fade when that break does not come.
- A white cross is that 30% day. A dashed line is a year with no close above the high, and the cyan lines drop there. From 9 Nov 2022 the volume includes US spot ETF dollar volume.
What shows up
- Explosive tops are climaxes. Dec 2013 and Dec 2017 were each at least 3× the previous climb, then fell 30% within 21 days, and the high held.
- Slow tops are fades. Nov 2021 arrived lighter on both the average and the peak, then fell 30% within 60 days, and the high held. 6 Oct 2025 arrived lighter on both the average and the peak, then fell 30% on day 45 (20 Nov 2025). No close has traded through $124,824 through 12 Oct 2026. The cyan lines drop on 6 Oct 2026.
- A wash can turn off before the high. The climb into Mar 2024 was purple until 27 Feb, then volume caught up and that high finished above the previous climb.
- A 30% break inside the window can still be exceeded later in the same bull. Apr 2013 confirmed, then a later climb traded through the high.
- Jun 2017 was a climax on volume. The 30% landed on day 34, outside the 21-day window, and price made a new high.