BitcoinLong
Global triangle break around November 2020, target 25.3K
Fundamentals
* Central bank money printing of unprecedented proportions (US FED 7 trillion and counting)
* No longer waiting - institutional money is *here* (Grayscale, Fidelity, Ray Dalio, etc.)
Technicals
* Volume profile strongly indicates BTC bottomed in early March 2020
* Currently clearly consolidating at 2.5 year resistance
Most BTC consolidation triangles tend to break around 70% prior to hitting the apex (citation needed, I heard that somewhere) - so I would guess around November 2021 would be when this one breaks up.
Simple measured-move target puts the triangle breaking up to 25K over the short term.
* Central bank money printing of unprecedented proportions (US FED 7 trillion and counting)
* No longer waiting - institutional money is *here* (Grayscale, Fidelity, Ray Dalio, etc.)
Technicals
* Volume profile strongly indicates BTC bottomed in early March 2020
* Currently clearly consolidating at 2.5 year resistance
Most BTC consolidation triangles tend to break around 70% prior to hitting the apex (citation needed, I heard that somewhere) - so I would guess around November 2021 would be when this one breaks up.
Simple measured-move target puts the triangle breaking up to 25K over the short term.
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