If BTC follows this long term trend and peaks at about 1000% from the trend line ( as it did at the top of the last bubble) at the end of it's 4 year cycle, it will be at $500,000 in Q4 of 2022. Let's see how it plays out!
Comment:
I also think BTC has bottomed given that we have a bounce at the 200 week MA and RSI has hit over sold on the weekly as well. Exactly as it happened at the bottom of the last bear market. Also, the over all sentiment in the market is that price will move lower than $3000 and I am taking a contrarian view.
Comment:
Update: The peaks at the top of the bubble have been progressively lower as a percentage from the trend line and going by this I am revising my target for the top of the next cycle to about 650% from the trend line in Q4 of 2022, which brings the price up to about $350,000.