BTC is currently in a descending triangle after a bull run, it's repeating.
Yeah pretty self explanatory, idk about anything tho so take it with a grain of salt. Consider it an educational post about chart patterns maybe
Using logarithmic curves by @quantdelic and my awful drawing skills, I'd like to believe that BTC could be valued at more than 30 mil by 2035.
Ofcourse, this could be due to inflation (mass dollar printing, infinite QE, etc) or BTC taproot or more bitcoins being lost (currently standing at 33% of total supply lost)
It doesn't have to be one or the other, actually.
Just a reminder of how $BTC traps people in correction of same degree by bouncing off golden pocket zones of fib extensions before dropping to 1:1 ( see how close it came to 1:1 in 2018 bear market bottom) . And this correction is of same degree of 2019-2020 drop and 1:1 of that is on marked price
BITCOIN still moved same as waves this correction bottom may be near $30k..we are in 4th wave correction of 3rd wave now & after that final leg up the 5th wave come which lead the market to up $250k I am expecting by year-end.As Elliot wave, I am not bearish on the chart.
1.618 and 1.272 is the mid of the Bull Cycle
2.414 is the Top of a Bull Cycle
1.618 is the Reversal point After a bear market
RSI Will gives a Diversion.
Most Important- This Monthly Candle must close above 45,217
BITCOIN still moved same as waves this correction bottom may be near $30k in worst condition before that i ma expecting $37k hold this correction but we are in 4th wave & now final leg up the 5th wave come which lead market to up $250k i am expecting by year end..
In this chart i analysis the BITCOIN chart with the help of Elliot wave & find the next potential target for BITCOIN which come around or above $2,50,000/- & then after reached that point BITCOIN take correction as last past cycles apx or in mid range of 80%-90% so i am assume 84% correction which come till $40,000 before the halving of year 2024...& we never...
2020 has been a good year for BTC, as it broke above the all time high. The 2021 is going to be a price discovery year. Using time cycles we can expect BTC to print some good numbers after getting overbought.