Here is our prediction on Bitcoin using trendlines
Recently most analysts speculate Bitcoin will reach $100k in the near future with some stating that it will reach this target
before the end of this year 2021
Target: $100k
Since the target is $100k we will only be using Bullish trendlines
Our prediction of bitcoin reaching $100k is based on four major Bullish trendlines spotted on the 1W chart
Trendlines gives us an estimate of the pair's future price if it were to reach $100k & the predicted
timeline.
Trendline 1: Predicts Bitcoin to reach $100k by July 2022,
this upward sloping resistance trend line shows the pair treating
this as resistance in July 2019 & April 2021 when the pair reached all time highs of $65k
Trendline 2: Predicts Bitcoin to reach $100k by Oct 2023,
This trendline started as a Support trendline in 2017 & early 2018
but turned to a resistance trendline in March to April 2021
Trendline 3: Predicts Bitcoin to reach $100k by Nov 2025,
Upward sloping Support trendline for Mid 2019 & early 2021
Trendline 4: Predicts Bitcoin to reach $100k by Dec 2031,
Resistance trendline for Dec 2017 & Jan 2021
If Bitcoin was to reach $100k we would expect trendlines 1 & 2 to be a more accurate prediction
of the timeline as both give a more realistic date for bitcoin to reach $100k
Recently most analysts speculate Bitcoin will reach $100k in the near future with some stating that it will reach this target
before the end of this year 2021
Target: $100k
Since the target is $100k we will only be using Bullish trendlines
Our prediction of bitcoin reaching $100k is based on four major Bullish trendlines spotted on the 1W chart
Trendlines gives us an estimate of the pair's future price if it were to reach $100k & the predicted
timeline.
Trendline 1: Predicts Bitcoin to reach $100k by July 2022,
this upward sloping resistance trend line shows the pair treating
this as resistance in July 2019 & April 2021 when the pair reached all time highs of $65k
Trendline 2: Predicts Bitcoin to reach $100k by Oct 2023,
This trendline started as a Support trendline in 2017 & early 2018
but turned to a resistance trendline in March to April 2021
Trendline 3: Predicts Bitcoin to reach $100k by Nov 2025,
Upward sloping Support trendline for Mid 2019 & early 2021
Trendline 4: Predicts Bitcoin to reach $100k by Dec 2031,
Resistance trendline for Dec 2017 & Jan 2021
If Bitcoin was to reach $100k we would expect trendlines 1 & 2 to be a more accurate prediction
of the timeline as both give a more realistic date for bitcoin to reach $100k
