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
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