$BTC Price Prediction: $136,000 (8 Green Weekly Candles Signal)
Updated
We know a bull run is coming, with ETF approval and institutional money adding to volume early next year. But how high could BTC go? Here's an educated guess:
We just closed 8 weekly green candles on Bitcoin.
You can't see the last time this happened in many TradingView exchange charts, because it was back in 2017, and most of today's exchanges weren't even around back then.
I had to look on
BTCUSD - dang, it's not working in this link, you have to type INDEX:BTCUSD into Supercharts, as they describe in the most complete Bitcoin trading history, to get to 17 April 2017, and count the eight green weekly candles to 5 June 2017.
This was a move of 156%.
After some consolidation, Bitcoin then went up in a bull run by 537%, to nearly 20k on 11 December 2017.
This is a ratio of 3.4x.
That's the ration for 156% for eight green weekly candles, followed by a 537% bullish move.
Our recent eight weekly candles from
27K to 44k is an increase of 61.53%.
If we have a proportional bull move after some consolidation, 3.4x this 61% is 209%.
That brings us to 136k for the top of the incoming bull run.
This is all speculation, NFA, I'm just a dude on the internet, and I'm probably wrong. But these numbers look intriguing, and give me a plausible exit point for the trades I'm making today.
We just closed 8 weekly green candles on Bitcoin.
You can't see the last time this happened in many TradingView exchange charts, because it was back in 2017, and most of today's exchanges weren't even around back then.
I had to look on
BTCUSD - dang, it's not working in this link, you have to type INDEX:BTCUSD into Supercharts, as they describe in the most complete Bitcoin trading history, to get to 17 April 2017, and count the eight green weekly candles to 5 June 2017.This was a move of 156%.
After some consolidation, Bitcoin then went up in a bull run by 537%, to nearly 20k on 11 December 2017.
This is a ratio of 3.4x.
That's the ration for 156% for eight green weekly candles, followed by a 537% bullish move.
Our recent eight weekly candles from
27K to 44k is an increase of 61.53%.If we have a proportional bull move after some consolidation, 3.4x this 61% is 209%.
That brings us to 136k for the top of the incoming bull run.
This is all speculation, NFA, I'm just a dude on the internet, and I'm probably wrong. But these numbers look intriguing, and give me a plausible exit point for the trades I'm making today.
Note
Sorry, mobile users, you can't see the entire chart. Here's a screenshot:caelanhuntress.s3.amazonaws.com/crypto/ideas/btc-136k-price-prediction.jpg
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