TradingShot
Long

Is $150000 the next top as BITCOIN becomes the NEW PARADIGM?

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
Does this sound a little far fetched from where we currently stand today? Well it also did so when Bitcoin was trading at $10, $100 even $1000. In fact its entire historical price action seems far fetched but it has been trading on solid patterns that never broke down and always delivered.

What I want to focus on this time, is the projection of the current cycle's top, in combination with a new long term pattern that may arise once this peak is made. I will be using the Fibonacci Channels and Extensions and this will not be the first time I am making a long term analysis using those tools (you can find those ideas at the end of this post).

To begin with, using the classic cycle bottom to top Fibonacci metric we can see that the 1.414 zone designates the top of the next cycle with uncanny precision! The next 1.414 mark is projected to roughly be around $150000. As you see from my previous studies with Fib channels below, this is not the first time such projections show a + $100000 figure.





What is more fascinating than the $150k projection itself is the spot where that peak takes place. That is where the Fibonacci Channel hyper trend (colored levels) crosses entirely above the infamous (and historically very reliable) Parabola (designated on the chart in blue). As you see on the chart, historically the top of the 2013 cycle was within the 0.786 - 1.000 Fib, the 2017 cycle within 0.382 - 0.500, so it is natural to expect the peak of the current cycle within 0.000 - 0.236 Fib.

This may be the start of a historic turn for BTCUSD as the Fibonacci Channel may not be of any relevance any more (it couldn't be forever) and the Parabolic Channel starts to turn asymptotic (standard parabolic behavior). This in turn can give rise to a new era for Bitcoin as greater world-wide adoption comes into play, a more stable environment is introduced and new standards, practices and regulations gradually turn BTC into an elite global currency.

Of course from where we stand today that looks like fiction but as I wrote at the beginning, it always had. Wild projections or not, the patterns have been so far too reliable to ignore and I wouldn't want to be one of those who overlook them. In 2011 people called a $30 BTC "expensive", in 2013 it was $1000's turn to be called "expensive" and guess what they call a $10000 Bitcoin price today.

But what do you think? Is $150000 a fair top to expect for the current Bull Cycle? And if so will that signal the start of Bitcoin's massive adoption?

Hit the like button, subscribe and let me know in the comments section!
Tradingshot is trading on the most trustful platform PRIME XBT!

REGISTER HERE --> https://primexbt.com?signup=139341

*Crypto, Forex,Indices, Commodities
*100x leverage
*5 order types
*Instant deposits
*Secure wallets
*0.05% trading fee on all assets

Comments

Incredible! I can see a straight shot from $10,000 to $150,000 in just a few months! Forget the fact that tons of people would have to be market buying BTC at 30k, 50k, 100k, 150k to make that happen...raise your hand if you'd be interested in buying btc at $150,000. Anyone? Anyone?
+6 Reply
@David_Scott, When Moon? :)
+2 Reply
TradingShot CryptoTrend-Alerts
@CryptoTrend-Alerts, Haven't seen the "when moon sir" slogan in a while but I am glad you brought it up!
Reply
TradingShot David_Scott
@David_Scott, I wouldn't blame those people. Probably they won't like to be like those who said Bitcoin was EXPENSIVE at $100, $500, $1000 and so on.
Reply
These log charts never cease to give me my daily fix of laughter!
+4 Reply
TradingShot crillin19
@crillin19, That is good to hear! To some they give laughter, to others profits!
Reply
TradingShot alpdemalp
@alpdemalp, Thank you for sharing!
Reply
TradingShot CaramelSpaceFrog
@CaramelSpaceFrog, Excellent use of the RSI and comparison with the previous cycle.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out