Bitcoin Gaussian distribution channel; a bullish indication now
The Gaussian distribution channel for Bitcoin on the weekly chart has determined when Bitcoin has entered a strong bull market and never looked back. Two times in the past BTC's Gaussian distribution channel changed from red to green. On 8/20/12, the channel changed from red to green. That $10.56 BTC price was the low for the next 15 months as BTC shot up to $1177 by Nov 2013, a 111 fold move.
On 2/1/16 Bitcoin's channel changed from red to green again. That $393.96 price was the low for the next 22 months as BTC shot up to $19764 by Dec 2017, a 50 fold move.
on 7/29/19 Bitcoin's channel changed from red to green again. That $10977 price hasn't been the low since but is close. If BTC follows the last two channel color changes, it should go up for the next 22 months again. Let's say it only goes up 22.6 fold instead of 50 fold in the last bull market. BTC should reach $248,000 by June 2021.
On 2/1/16 Bitcoin's channel changed from red to green again. That $393.96 price was the low for the next 22 months as BTC shot up to $19764 by Dec 2017, a 50 fold move.
on 7/29/19 Bitcoin's channel changed from red to green again. That $10977 price hasn't been the low since but is close. If BTC follows the last two channel color changes, it should go up for the next 22 months again. Let's say it only goes up 22.6 fold instead of 50 fold in the last bull market. BTC should reach $248,000 by June 2021.