BITCOIN CYCLE TOP $118K - $125KBased on trend continuation that began in 2017, we can expect a Bitcoin top between $118,000 - $125,000. Based on previous halvings and ATH cycle tops, Bitcoin typically reaches its highest price 12 - 18 months after the halving. That would put this cycle ATH date between April 2025 and October 2025.
Feedback appreciated!
If you have a different price target, please share in the comments!
Bitcoinath
Why we're bullish on $BTC despite weakness over the past weeksThe INDEX:BTCUSD ATH can act as a strong key level, being strong resistance when price is under it and strong support when price is above it. Regardless of what the current market factors are at play now, we know one thing for sure, Bitcoin's break of ATH has without fail been a strong indicator of a bull market every single time since it's inception.
Now this does not mean that once we cross the ATH this means we are going straight the moon, we have to remember that a bull market is supposed to last for months, not weeks. What we are seeing now on Bitcoin is not an up-trend or a down-trend, it is a consolidation at it's previous cycle's ATH. Many investors and traders were probably thinking that once Bitcoin passes it's ATH, the asset magically becomes super bullish and that investors will never see a single red candle again for the next year. This however, is untrue as seen on the charts recently and also during previous breaks of ATHs.
From a statistical POV, the break of the ATH on Bitcoin is bullish, and that the price can continue to consolidate further before making it's way up, this is completely normal and the best move sometimes, is to do nothing and just be patient. We continue to be bullish as per our Crypto Bull Thesis and we will continue to send updates on the crypto market.
The Mother Of All Trades 🙏🏽 Billions Will Be Made!Imagine a world, where The Crypto Weather Channel had its own bank. That bank stored a large amount of its capital reserves in Bitcoin at the start of the Bull Market. This is what that would look like.
#Long
Take Profit: $66,442 (5th Halving Price)
Entry: $26,976 (CAT 1 Price)
Stop Loss: $15,473 (Market Cycle Low)
BTC new bottom and new topNew bottom 📉
I look to all high time for BTC and i found, Every new AHT, that comes a correction ( - 84% to - 93 % ) 📉
A B C D ( AHT )
A = D , B = C 👀
A = - 93 % correction
B = - 84 % correction
C = - 84 % correction
D = Until now ( - 69% correction ) i think we will go to - 93 % correction 👀
BTC ==> 12K $ 📉
BTC ==> 6k $ 📉
--------
New top or AHT 📈
after the correction we see new AHT
BTC ==> 74K $ 📈
BTC ==> 114K $ 📈
BITCOIN Deep Dive to find Bottom!Welcome Traders, Investors & Gamblers 😃
Let's Dive In and Find the Bottom!
Daily Charts:
Support & Resistance Levels
On a quick glance at this chart we would think that there isn't too much support in the area that Bitcoin is currently hangingon to, but down below I will go through all the indicators that lead me to call these current lows for Bitcoin in the beginning of the year already.
Weekly Charts:
200 Week SMA & Falling Wedge:
As mentioned yesterday, THE bullish scenario! Wick below the support and finish the week above the wedge support to go back and test the resistance.
2017 $20k ATH:
Right in the middle of major moving averages and Fibonacci levels we have the historic ATH from 2018.
Monthly Charts:
200 Week SMA, 50 Month SMA:
Pay attentio to the red circle, in the one instance where we touched the 200 week SMA but not the 50 month SMA we ended up falling short of a new ATH until we came back downand touched both moving averages.
Fibonacci Retracement:
The "Absolute Bottom" could lay around the.786 for BTC since we lost the .618 it would be logical to continue down to the next Fib. level and find a bounce there. As we know we have never closed a weekly candle below the 200week SMA and 50 Month SMA, but we have wicked way below on various ocasions with the last being in March 2020.
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
BITCOIN 1000 DAYS!Good Evening Traders, Investors & Gamblers 😃
The Idea is pretty simple, it took Bitcoin roughly 1000 days on average to get to a new All Time High after the previous one. That would take us to Summer (July/August) 2024 and roughly in line with the next Bitcoin halving!
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
BITCOIN 360k+ Update!Happy Saturday Everyone! 😃
It's been a little over two weeks since my "crazy" post and video where I spoke about why I think that Bitcoin could reach 165k to 360k before we break the uptrend on the larger time frames and fall into a full on bear market.
The original Idea and the follow up video got a lot of traffic and I want to thank all my new followers and @tradingview for the support! 😃🙏
I decided to post an update here on the Monthly BTCUSDT chart for better visibility.
Original Idea:
"...The Idea is simple, as you can see BTC has never fallen below the 200 Week SMA (black line), not even during black swan events like the start of the pandemic in 2020
... Bitcoin hasn't found the top yet as an 85% correction from the current 69k top would take us to about 10k and we would have to break the 200 week SMA which as previously mentioned, has never been broken.
Hence a result, to imitate the behaviour of Bitcoin during and after the ATH's in 2013 and 2017, BTC would have to rally to about 165k before dropping back down to the 200 week SMA..."
Update:
- The average correction after reaching a new ATH was 83% from top to bottom since 2010.
- 360k+ is more likely than 165k top since the weekly 200 SMA reaches 60k+ (rough estimate) after BTC reaches a top of 360k+..
- All ATH's since 2010 are taken into consideration.
Stay tuned for my Bitcoin update video 🎬, where I will discuss the most bullish path to reach those targets of 360k+ ! 📈
I would like to add that this post is meant exclusively for educational purpose and that non of my posts are financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
BITCOIN 165k before 22k!Happy Sunday Everyone! 😃
This is a mid to long-term bullish scenario for Bitcoin.
The Idea is simple, as you can see BTC has never fallen below the 200 Week SMA (black line), not even during black swan events like the start of the pandemic in 2020.
We can also see that after the previous ATH's in 2013 and in 2017 , the price dropped roughly by an average of 85% .
The conclusion of this idea is that Bitcoin hasn't found the top yet as an 85% correction from the current 69k top would take us to about 10k and we would have to break the 200 week SMA which as previously mentioned, has never been broken.
Hence a result, to imitate the behaviour of Bitcoin during and after the ATH's in 2013 and 2017, BTC would have to rally to about 165k before dropping back down to the 200 week SMA roughly between 25k and 22k .
I would like to add that this post is meant exclusively for educational purpose and that non of my posts are financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
165k BITCOIN Prediction Too CONSERVATIVE?!Happy Monday Everyone! 😃
The title says it all, I'm going over my very controversial chart from yesterday where I predicted a 165k top for BTC .
I will post an updated more detailed version of the chart in the coming days.
Please make sure to check out my other posts too if you liked this one!
And finally a massive THANK YOU to all of you new followers and THANK YOU to @TradingView for publishing my post on to the front page of the website! 🙏🚀😃📈
I would like to add that this post is meant exclusively for educational purpose and that non of my posts are financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
Christmas HopiumI will be the first to admit I have missed some expected targets on the year so far. Many of us have. I like many of you am shocked to see us here at these Bitcoin levels approaching year end. Is all lost? No-Bitcoin continues to reward those who are patient. To all those who follow the Shark, Merry Christmas! We are right there on this Falling Wedge. I'm looking for a pop back to 53K that is the level where Bulls can get some momentum going. Let's look for this Christmas move we all want. Best to each of you. Remember ALL GREAT SUCCESSES ARE THE TRIUMPH OF PERSISTENCE.
BRONSON-TheSHARK
Bitcoin Update 14/08/21: New ATH Target @ $77,335 The Bitcoin Bulls are Back! After setting a new ATH @ $64,841 in April, Bitcoin experienced its the first major sell (some may say manipulated) off in this Bull Run Cycle (-50% from the top). We have been closely watching the BTC chart for a strong trend reversal signal. From the ATH @ $64,841, Bitcoin formed a triple bottom in the $28-30k region, the last bottom experienced on the 21st July is confirmed as our bottom here. The Swing Call Script gave further confirmation of the strong trend reversal as a Buy signal was triggered on the 4H Chart on the 22 July and further on the 6th August showing strong signs of bullish momentum back into the market.
From here we expect BTC to retest the current ATH @ $64k which is a 40% Gain from the current price @ $45k. Further to this, we can expect some heavy resistance between the 61.80% - 78.60% fibonacci level. A clear break past the 78.60% fibonacci level see BTC setting a new ATH at the 127.20% fibonacci level. Please see previous analysis below. Happy Trading :)
BTC finally testing the 200 SMA and is showing strong signs of bullish momentum as we see the BTC Bulls coming back into the market 🚀. After 4 failed attempts of trying to break above the key resistance @ $38,595 BTC has finally broken above this key price level. Since the crash BTC found its Bottom tanking down -51% on the 19th May to $28,787 from $57,777 and had previous retraced from the ATH price @ $64,841 to $46,814 (-27%). BTC has been in a whale accumulation zone for the past 27 days from 19th May to 15th June. Our Swing Call Script triggered a strong buy signal for #BTC LONG when the 13 EMA crossed up above the 50 SMA on the 10th June; BTC has since increased over 10% in just over 5 days. From the current price level we have longs positioned and the current TP 1 is at the 127.20% Fibonacci level @ $74,647 (85% gain from current price level) and TP 2 at the 161.80% Fibonacci level @ $87,122 (116% from current price level). Note the price targets are for long term swings, we may be in this accumulation phase a little longer. Happy Trading :). See previous analysis below.
Bitcoin Update 02/04/21 Next Target @ $66,953 13% Gain New ATH in April
I've loved charting BTC last Month, analysis has been quite spot on just waiting on our new ATH now @$66,953 13% Gain from current price level. #Bitcoin has found key support around $58k price level. It looks like the Bitcoin Bulls are back in the market. Worst case scenario from here in the short-term could see the price test the 50SMA, and breaking below this level would see another test of the 200SMA before the anticipated move to the upside and our target of $66.953 at the 127.20% Fibonacci level. See previous analysis below. Happy trading :)
Update 29/03/21 Bitcoin next Target @ $66,953 21% Gain
Nice bounce from the whale accumulation zone at the 78.60% Fibonacci Level. Looks like the BTC Bulls are back in the market.
See previous analysis below.
BTC Monthly Outlook Update (23/03/2021) Approaching Whale Accumulation Zone at the 78.60% Fibonacci level @ $52,371. Interesting next few days from here as a bounce from the 200 SMA at the whale accumulation zone could finally see us break through the key resistance at the current ATH level from 14/03/21 @ $61,690. April is set to be a very interesting and pivotal month for the cryptocurrency space. See previous analysis and monthly outlook below. Happy Trading :) #whaleaccumulationzone
Update 21/03/21: Yesterday the Bulls failed to push the price higher and we had a small retracement down from $59.5k to $55.6 where we found some support of the current price level (-7%). From here the worst case scenario would find us in a key whale accumulation zone @ 78.60% Fibonacci level $52,371. However this scenario is unlikely to play out and as expected from the previous outlook before, we expect the Bulls to come back in the market, pushing as further to higher highs as we have been consolidating around this key price range between $54.5K to the current ATH @ $61.8k. If we fail to break past the previous ATH , the bearish scenario may see a test of the 200 SMA around the 78.60% Fibonacci level, otherwise the Bullish scenario is still in play. Note that from this current trend from 28th January we have only tested the 200 SMA once and a bounce from this level may signal a much stronger bullish move towards our price target $77,335 @ the 161.80% Fibonacci extension and further $107,340 @ the 261.80% Fibonacci level. So far great performance this month from £BTC as March is usually quite a bearish month looking back at the past. April looks ready for us to really fly, testing the 161.80% Fibonacci extension , but note this may not be a straight forward push but all the fundamentals are pointing towards the $70K as our next significant area of interest for the Bulls, currently a 16% gain from the current price level would see BTC reach $66,953 127.20% Fib extension. See previous analysis from 1st March 2021 below. Happy Trading :) $BTC #HODL
*Update 20/03/21
#BTC Monthly Outlook Update from 1st March 2021; 13 EMA crossing up 50 SMA showing strong bullish sentiment as we are about to enter the last week of the month, expect the bulls to come back and to push the price higher. Currently the 127.20% Fibonacci Target ($66,953) has not been tested yet, but we expect some big movement in price over the next few days and further going into the last week of the month (Yes, it has been March Madness), 13% Gain from the current price level @ $59,390 to $66,953 127.20% Fib extension. Our next target after this is $77,335 @ the 161.80% Fibonacci extension . From our analysis at the beginning of the month It looks like scenario 2 has been in play, see below previous analysis from 2nd March 2021.
In addition to previous price analysis, the Cryptocurrency 'Super Cycle' is in play as we are just at the brink of global adoption. 2017/18 was the hype era, we cannot continue to set targets based on the price movements during the cycle mainly fuelled by hyper and euphoria, it is now 4 years later and real development has been happening behind the scenes, a lot of people cannot quite comprehend the growth and the different cycle that we are now in as Moore's Law of exponential growth can only give us a hint at the growth that is about to be experienced over the next 4 year cycle. An increased influx of capital injection into this now trillion dollar market will only continue, as Defi takes its hold on current Global financial infrastructure, and yes history repeats itself, We call this the 'Roaring 20s' just like before at the end of WW1, the pandemic has only accelerated the current adoption rate of blockchain technology. As some are already aware, the best time to grow a million dollar portfolio was from 2009 to 2019 just after the housing market crash. The second best time in our lifetime is Now! from 2021 to 2029 after the pandemic market crash. We are still very much Bullish for BTC to reach our EOY Target of $356,000, See below key fundamentals which support our bullish sentiment.
*(March 02, 2021 Update)
BTC is currently consolidating at 61.80 Fibonacci Level. BTC outlook for the month ahead is still very much bullish . Although the sellers have been in control of the market since soaring to a new ATH on 21/02/21, BTC took a sharp retracement as expected at these new level of resistance as well as a new ATHof$58,792 on the Gemini Exchange. As from historic highs we see a lot of profit taking occurring after 3 weeks of setting new constant highs from the previous low of the last push wave which saw BTC setting a high of $42K and then sharply retracing down to $28,787 where we found the previous resistance and also the beginning of the last phase which saw one of the greatest run of Bitcoin in history, reaching the current ATH of $58,792.
With the current push phase now over we find ourselves asking how low can we go from here and when do we expect to break past a new ATH . This outlook is based on 2 possible scenarios which could both play out. We have seen the 50% Fibonacci retracement level respected on the last 2 Push phases which both set new ATHs, the first being $42K and latter, the recent high of $58K. As we have seen a strong retracement over the past 7 days back down to the 50% Fibonacci, it may be time for the BTC Bulls to regain control of the market as the current fundamentals point to the 50%-38.2% Fibonacci level of key resistance as well as a point of accumulation for the BTC whales, more importantly the $39,000 mark when looking left at the previous key resistance before the parabolic move to the $58k ATH .
With this in mind, from the current levels we could see the price of BTC sink further before the much expected move which could see BTC testing the previous High of $58k and further pushing to the 127.20% Fibonacci extension level setting a new ATH @ $66,953.
Scenario 2 would see the current push towards the ATH continue but may face some resistance, and further consolidation expected around $46k-$49k as they are the key Whale Supports towards the upside, so a further retracement could be in play, possibly testing the 50% Fibonacci level, as well as the 50 SMA , with a bounce confirming an explosive move to the upside which could see BTC easily smash past the 127.20% Fib extension level setting new fresh Highs between $67,000-$78,400+ by mid to late March. Use the buy zone indicated to map out your position as a possible 52% gain is achievable from the Buy zone. Stochastics showing an extremely oversold market condition. Happy Trading :) *
Key Supporting Fundamentals for BTC:
Strong Interest of Institutional Players
A survey of institutional investors and wealth managers who already engage with bitcoin reveals that 85 per cent plan to increase their investment in the cryptocurrency over the next two years.
The survey, which was commissioned by Nickel Digital Asset Management (Nickel), a regulated investment manager connecting traditional finance with the digital assets market, also reveals that between now and 2023, 72 per cent expect professional investors in general to invest in bitcoin for the first time or increase their exposure.
Current Economic Instability
The policy of the US Federal Reserve and the economic instability that has arisen as a result of the unprecedented emission of new dollars may further play a role in the growth of Bitcoin price...10% of the $380 billion stimulus money could be going directly into cryptocurrencies and Bitcoin .
Digital Gold
Crypto currencies certainly look as if they’re here to stay. It makes a lot of sense to have them in an increasingly digitised world. While bitcoin has a strong tendency to polarise opinion, it has now gained acceptance among some of the world’s largest financial institutions and payments companies. MasterCard, for instance, has said it will begin supporting crypto currencies on its network later this year. PayPal already allows eligible users to buy, sell and hold bitcoin in the US and expects to roll out its service in other territories soon.
The Case For Global Adoption and New Reserve Currency
Cryptocurrencies promise to help solve problems that are particularly acute in emerging markets (EM). Their governments are often centralized but relatively unreliable, which destabilizes currencies, opens the door to profiteering middlemen, and erodes public trust. Blockchain, the technology behind Bitcoin’s decentralized network, promises to cut out the grasping hands of governments and middlemen, and speed up transactions with more transparency and lower fees. It is offering what many EM customers are desperate for.
The Development and Extensions of Blockchain Technology
Due to the nature of blockchain technology’s ability to benefit all parties involved in different business operations. Since it was introduced in 2009 through the application of Bitcoin , blockchain technology continues to attract not just the financial institutions of the world, but also other fields and industries in insurance , law, entertainment and the Internet of Things ( IOT ) applications. Several scholars and advocates have also strongly suggested the use of the technology in voting systems globally, medical records and vehicle registrations by the state to further increase efficiency, simultaneously eradicating fraud in many areas. This technology does not only aim to improve conventional business operations but can also empower the greater society out of poverty as 1.7 billion adults in the world remain unbanked. The widespread adoption of a cryptocurrency like bitcoin running on the blockchain would mean that anyone with access to the internet can send and receive value from point A to B without the need of a third party.
Although many Banks were very hesitant and in fact spread fear in the markets due to cryptocurrencies being linked to nefarious activities on the dark web. A recent study by Goldman Sachs suggested that the adoption of blockchain technology in facilitating seamless cross border transactions without the worry of fraudulent transactions could save up to $6 billion a year; as the new models currently being developed by the bank would mean inefficient payment and accounting networks would be eradicated.
Can Bitcoin’s coming ATH be $188k?Previously I published my so-called Da Vinci Theory working out the time frame expectancy for BTC to reach this cycle’s ATH; and it got me to theory that Bitcoin is to have its ATH by the 1st week of Jan 2022. Full details and breakdown can be found here:
This time, I worked out on predicting the ATH itself. I have published it roughly and pinned it on my Twitter profile back in August 1st. And here is the breakdown of this theory; feel free to challenge it:
1. I started with the question of how high should Bitcoin should go to fall 80%-85% in the next cycle setting it’s new ATL. After all, it is a known fact that BTC falls this much from its new ATH to set its new cycle ATL.
2. Then I considered that Bitcoin should respect its previous cycle 2017 ATH ~20k, and not violate it. After all, this is what we learned from Bitcoin cycles.
3. Then I looked at the charts where the bulls defended the support during this cycle, and could that 30k was defended in Jan 2021, Feb 2021, May 2021, June 2021 and July 2021.
4. To avoid being biased to this support, I applied Fib R on 2017 cycle ATH and ATL where the 0.236 level met 2017 ATH at 20k, and 2018 ATL 3.1k at the 0 level. These Fib levels have been the consideration of Bitcoin in every cycle, the only difference was the FIB R level of the ATH that followed.
5. Looking at Fib R proposed ATH levels for this cycle, I found the following: 74k at Level 1, 117k at level 1.618, and 188k at level 2.618.
6. I didn’t take into consideration further levels in consideration of the diminishing returns theory and to remain as conservative as rationally possible with this theory.
7. The level that gave Bitcoin 80%-85% drop without violating previous cycle ATH, was the 1.618.
8. That said, theoretically this coming ATH puts Bitcoin at a jaw dropping $188k.
Now that I have validated my theory with the mentioned above references, I worked on what takes to violate my theory:
1) If Bitcoin doesn’t reach that high, it may end up either not dropping 80%-85% in the coming bear market => This will violate Bitcoin all previous bitcoin cycle trends. Or Bitcoin will fall through previous cycle ATH 20k, which again violates Bitcoin market cycles.
2) If Bitcoin doesn’t have a bear market after hitting ATH, and will continue ranging till the next scheduled halving in 2024.
Nothing mentioned here is engraved in stone… it remains a theory till proven wrong or right.
What do you think?
When is BTC parabolic climb to ATH?While BTC climb from $30k to $47k in a matter of two weeks can be very much be considered parabolic, but for Bitcoin that's not a big of a deal.
So what is next?
As per my way of playing it:
1) BTC will rise from here to FIB R 0.786 level ($57k~$58k range) Till then Alts will enjoy a mini Alts Season. This may play out within this month.
2) Then BTC will retrace from the FIB R 0.786 to retest 20W SMA. This will bring Alts back to their lows, and BTC.D will take over from there. That would be similar to summer of 2020.
3) Afterwards BTC will rise parabolically to its new ATH which I expect to be in Dec 2021 or Jan 2022.
This is a forecast / prediction for the market. However, nothing is carved in stone... keeping an eye on the SMA & RSI remains key.
Bitcoin - will the new ATH? (Be carreful) BTC/USDTHello dear friends, I will not write much, because now there is no sense to describe what is already visible on the chart. I just want to warn you about the possibility - a double top.
But since our previous plan is working out, while we are working on the situation.
My yesterday's scenario of a fall did not work, as I expected, yes, of course we took 950 points/$ of profit, but I misjudged the situation then.
P.S We could have made more.
All description in comments.
Still Think 25K by JanuaryIn one of my last posts I presented some calculations that produced an estimated peak of 25,777 by January. In light of recent events, this still seems quite achievable.
The top gold line is my peak estimate, and the midline of the pitchfork crosses it on January 2nd.
P.S. The Adam and Eve marks and the blue arrow were drawn the day before we broke the ATH.
So far so good!
WHATS NEXT ?we may have a shadow to 20-22k region , but i dont want to belive a shadow , you can buy with monthly candle closes above 19800
i expect a pullback to 14k region or 12k that can be a great buy regions , dont forget about greed exist these days , we may stay near top for a wile so whales can eat more fishes
BITCOIN REACHES ATH- HAPPY ANNIVERSARYIt's been exactly 1 year -to the day- since I published the last analysis, so here is to the anniversary .
BITCOIN REACHES ATH.
Because the FED party will go on.
And because 9390434 other reasons.
But now, watch out for a correction & healthy consolidation -we're running pretty hot on almost any timeframe, from candlestick patterns to RSI. $20k is the previous psychological zone to take profit.
Once a healthy consolidation is established, the party can go on.
#BTCUSD ANALYSIS.. POSSIBILITIES.. Before halving, Bitcoin continues to maintain its positive outlook.. Bitcoin obviously performs better than I expected and in this context, the new target seems to be $ 10500..
In general, I find it meaningful to evaluate the possibilities with different approaches in my publications.. With a different approach in # BTCUSD, we can say that there are some formations that we may observe in the future.. If the #BTC reaches its target of $ 10500 and goes to a deep correction from that level, first, as I mentioned in the chart result of consolidation at 6400-7900usd levels, inverse head and shoulders formation (blue curves) and a cup (red curve) will occur.. Besides these, we can observe another inverse head and shoulders (red curve and yellow curves) and a bigger cup (black curve), in the future.. These intertwined formations can be a leading indicator of a very serious bull market.. Although it is quite difficult to make a clear prediction on the axis of temporality, in my opinion, the formation of the black cup can occur by the end of the year..
Disclaimer: What I wrote is not investment advice.. Please do your own due diligence when it comes to crypto-investing.. Never put in money that you cannot afford to lose.. Invest at your own risk..
I wish you all the best..
BTC NEXT TARGET ZONE $15.600 / $17.250BTC is been moving inside parallel chanels, each channel is getting more narrow, RSI, STOCH and MACD are showing a formation of a Bearish divergences this never happened this year ont his time frame in all the indicators., This couldbe the last stage of this uptrend then following an ABC correction going through all the channel until reach the bottom of the last one and the horizontal level of $9700, should be good support.