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3month

3 month log chart on btcThe green symmetrical triangle pattern that also doubles as a bull pennant here on the 3 month btcusd log chart gave us 100% exact precision on the measured move just from the triangle portion of the pattern. We can see the measured move from the triangle alone was the exact top of the recent bull market exactly. We can also see the correction we had the past year that most are considering a bear market did not even come close to retesting that green triangle and likely will not. That means the actual bull pennant that triangle is part of is still very much in play. When you attach the pole to the pennant you get a much much higher target. It may not fully reach this target for at least two more bull cycles but this target is still very much in play and it likely will reach $586k this decade. In the mean time we can see in yellow here a smaller pennant fractal that is most valid on the 1 week and 1 month charts. If it behaves similarly to the larger shape, then we should see the first significant correction of the current uptrend occur after reaching the measured move breakout of the wedge around 49-52k. Odds are good the correction even if steep will still result in a higher low and continue the macro uptrend at that point to the full measured breakout move of the yellow pennant somewhere around 148-150k. I think then we would probably see another bear season and it is after that bear season we would likely finally start heading to the full measured move breakout target of the larger green pennant in the 580-590k region. Of course for now the timing on all this is still heavy speculation but I thought it would be fun to post just to see how closely it follows my prediction. My guess is it can reach the highest price target on this chart before 2030, maybe even by 2028 or if we’re lucky even sooner. *not financial advice*
OANDA:BTCUSD
by DrDovetail
4
Speculative 3moth chart channel/bullflag on bitcoin So I basically took a trendline on the 3 month chart and connected the 2 bottom wicks on the most prominent red candles for the bottom trendline of the channel…I then cloned that specific trendline and placed the left side of it on the highest green candle wick for a top trendline to the potential channel low and behold our current 3 month candle is very very close to retesting that top trendline of the channel. SHould it retest this exact line and find it as resistance it greatly increases that this speculative channel is aa valid one in which case we can then take a measured move and determine were we then to later break up out of the channel…the target of the channel alone, were it to break up from the arbitrary spot I placed the dotted purple line on is around 80k-82k. We’re it to be more of a bullflag than just a channel then we can see a measured move of a bull flag breakout with the dotted green line that would then take is just above 100k. For now, I wont be confidant that this is a valid channel until I see precise resistance right on the top trendline either on this current 3 month candle or the next one, however I do get the feeling we will see something of the sort the way rice is acting when this close to it. We shall soon see. There are also people claiming because of the law of diminishing returns that there’s a chance the top of the upcoming bull market may not crack 100k, so keeping that in mind, if this channel does become valid, once we would hit the full target of the channel breakout, I would probably start taking a very close look at the pi cycle top indicator just in case the diminish returns theorists out there have a point, however with the wave of institutional level adoption poised for this next bull market I think probability still currently favors a bull market top above 100k this upcoming run. Still wise to seriously consider both sides to be ready for either outcome though. I just wanted to post this 3 month speculative pattern on here for now so I can continue to easily watch it the next few 3 month chart candles. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail