This is a weekly chart, showing leg 1 of what I believe to be a measured move into the multi-month bull flag we saw start this past summer. Around the election, leg 2 began. Based on the tendency of measured moves to be fairly equivalent, I believe we will see 160K BTC sooner rather than later (Ie within 1 year)...
I see a possible double-top and head and shoulders. Combined with bearish price action the past few session, I will be shorting this with the stoploss and TP indicated on the measuring tool...For entertainment purposes only!
This analysis begins with the bowl-shaped accumulation which eventually broke to the upside. The depth of the accumulation(black vertical line in bowl) indicates a likely target for upward potential (vertical green line). The purple lines in and out of the recent bull flag show a measured move price target pretty close to that of the previously mentioned target....
