Currently bitcoin appears to be in a falling wedge pattern which is bullish if it breaks the diagonal to the upside. Based on support levels and using fibonacci retracement, and that the stock to flow model suggests 100k in this super cycle, bitcoin most likely will reach 100k this cycle and have a blow off top to 125k before topping out and signalling the start of the bear market for the next super cycle which has a target of $1000 000 in 2025 / 2026
Note
Each super cycle lasts approximately 4 years. The last cycle topped out end of 2017 and before that end of 2013, therefore bitcoin should top out end of 2021.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.