Bitcoin Monthly View and 2022 Price Target
Updated
Hello my fellow Bitcoinistas!
Using the BLX Line Chart and a Monthly timeframe I am estimating that Bitcoin should hit somewhere between 150K-200K with an ideal target of 180K this cycle top.
This assumes that Bitcoin continues to follow the 4 year cycles with each cycle top approximately 4 years apart and the next cycle bottom approximately 1 year from the previous cycle top.
As you can see at the bottom of the chart the Monthly RSI is also directly correlated with the cycle tops and bottoms with 2 peeks each 4 year cycle. We still have 1 to go.
I do not believe that
64K was the cycle top or that the price will drift down from here to the next cycle bottom and I do not believe that this cycle with lengthen for more than a few months if at all.
What I do think is possible that might break this cycle in a positive way is that we get some kind of major event like Brazil and a few other countries announcing Bitcoin as legal tender or the USA offering a Bitcoin ETF etc. which breaks the traditional 4 year cycle and sends Bitcoin straight to the moon this cycle. (200K-300K) There is just too little Bitcoin available and too many new Hodlers to be able to keep prices suppressed with any kind of major spike in demand.
At any rate, this chart is my latest estimate of where Bitcion may be going in the next few months assuming that all of my assumptions are correct. :0)
I hope this gives you an alternate view of whatever charts you may be studying at the moment.
BBS Out!
Using the BLX Line Chart and a Monthly timeframe I am estimating that Bitcoin should hit somewhere between 150K-200K with an ideal target of 180K this cycle top.
This assumes that Bitcoin continues to follow the 4 year cycles with each cycle top approximately 4 years apart and the next cycle bottom approximately 1 year from the previous cycle top.
As you can see at the bottom of the chart the Monthly RSI is also directly correlated with the cycle tops and bottoms with 2 peeks each 4 year cycle. We still have 1 to go.
I do not believe that
64K was the cycle top or that the price will drift down from here to the next cycle bottom and I do not believe that this cycle with lengthen for more than a few months if at all.What I do think is possible that might break this cycle in a positive way is that we get some kind of major event like Brazil and a few other countries announcing Bitcoin as legal tender or the USA offering a Bitcoin ETF etc. which breaks the traditional 4 year cycle and sends Bitcoin straight to the moon this cycle. (200K-300K) There is just too little Bitcoin available and too many new Hodlers to be able to keep prices suppressed with any kind of major spike in demand.
At any rate, this chart is my latest estimate of where Bitcion may be going in the next few months assuming that all of my assumptions are correct. :0)
I hope this gives you an alternate view of whatever charts you may be studying at the moment.
BBS Out!
Note
We have so far to go before this thing tops out. A very exciting time for Bitcoin.HODL ON !
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