Bulls to project first targets.
Recent confirmation of leaving the bottom of 40W cycle behind has started fast pace of raise for BTC and other important altcoins.
As drawn on the chart we have got first estimation of local target, mid way of the bull run that has started just now.
By extending moving averages of recently confirmed cycles, we estimated the point where bitcoin should top off and have some retrace before next stage of this 40W.
We estimate the top at 33k by 26th of December along with the top of first 10W cycle.
Of course adding some standard deviation is essential for managing the risk level.
Bitcoin is getting more and more stable along with the influx of huge institutional funds.
It is getting out of being just a speculative asset but a serious instrument so we would not expect some 10k moves but rather a steady up trend.
Then we should see some trace back in January, that would lead us to the proper high of the major 40W cycle somewhere between February and March 23. Precise numbers we can estimate after we top off this first 10W cycle that we are riding now.
As drawn on the chart we have got first estimation of local target, mid way of the bull run that has started just now.
By extending moving averages of recently confirmed cycles, we estimated the point where bitcoin should top off and have some retrace before next stage of this 40W.
We estimate the top at 33k by 26th of December along with the top of first 10W cycle.
Of course adding some standard deviation is essential for managing the risk level.
Bitcoin is getting more and more stable along with the influx of huge institutional funds.
It is getting out of being just a speculative asset but a serious instrument so we would not expect some 10k moves but rather a steady up trend.
Then we should see some trace back in January, that would lead us to the proper high of the major 40W cycle somewhere between February and March 23. Precise numbers we can estimate after we top off this first 10W cycle that we are riding now.
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