The Bitcoin Supercycle (Part II)
Using Kennedy channelling to infer the super-cycle Base yields the lower Blue channel shown below. This is rendered on a semi-log axis to account for the huge dynamic range of the price signal. As quickly becomes apparent, the recent sub-wave 3 high terminated precisely at the underside of the Base channel back in April 2021 (z). Notice the structural similarity between the pattern yielded in 2021 (W3.3) and that in 2013 (W1.3). A further strike of the Base channel from the underside (similar to 2013) would represent a price target of ~265k assuming this happened on or around the beginning of April 2022. Based upon this wave-count, the current move in play is a wave 4 which imho could take until April to fully play-out.
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