Oh boy, this is an interesting one. Read the long notes on the chart. MEXC:PLSUSDT may be forming a cup and handle, which would be great for ICO bag holders. Resistance levels at 0.0001 and 0.00023 from ICO taking or locking in profit.
ChatGPT assisted Log transforms using ATH price suggest next ATH will be 113k.
ChatGPT assisted Log transforms using %increase between ATH predict 108k.
Yea, its Chat GPT. I'm too tired to do it by hand myself.
Based on previous bull cycle timings, 2024 ATH should be around September - November 2025. If you reference my other chart BTC-4-month-outlook-for-december-2024-expecting-118-120k, it suggest cup and handle closes mid summer 2025. Given the timing data here, the cup and handle chart has flaws in that 1) price may rise significantly higher than the predicted 120k,...
Multi-year chart has classic cup and handle. Target looks to be about 120k, but safe trade is to take profit around 118k. I expect other traders to try and take profit before 120k, so may hit significant sell pressure anywhere after 115k.
Elliot impulse wave overlayed short term BTC chart. Expecting a dip to 90k, which may be entry point for trade up to 118-120k, where long term cup and handle completes.
Assuming no shakeup in the the next 6 months, I expect to run between red and green until at least june. Unsure of which green is valid, a bit risky for long positions. Would hold if entry around 500.
575 short term not unreasonable, but would probably take profit between 560-575, and wait to re-enter 525-530.
More likely to have an upside breakout mid...
