Long Term Bull Channel Implies $250,000 BTCUSD by early 2022
Updated
The long term bull case for BTC is stronger than ever. My strategy is to keep buying the dips and use support/resistance levels in the long term fibonacci retracement along with NVD and Eliot-Wave convergences as buy/sell signals. Seeing as we are still at the bottom of this channel and the channel bottom has held for the past 5 years now, this is a decent time to buy dips below $10,000.
https://www.tradingview.com/x/iKfhOctm/
On a more fundamental note, price action within the 12~24 month period following previous halvening events implies that a 25x parabolic move from current levels by end of 2021 or early 2022 is entirely possible. During this leg up I expect that it will hit the top of the channel around $250,000 ~ $300,000 before making another dump to the channel bottom.
https://www.tradingview.com/x/iKfhOctm/
On a more fundamental note, price action within the 12~24 month period following previous halvening events implies that a 25x parabolic move from current levels by end of 2021 or early 2022 is entirely possible. During this leg up I expect that it will hit the top of the channel around $250,000 ~ $300,000 before making another dump to the channel bottom.
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