Bitcoin $100k-300+ Target - Watch out for rising volatility II
Wanted to update my idea and put some more data points on my charts.
According to those Bitcoin is very aggressively pursuing maybe a even higher target then the lower $330k range or it is due for some major 30% type pullback.
Reason being that the trend line from the break of the all-time-high in 2017 to the new ATH end of 2017 would have been a higher boundary that was never really touched back then.
But the current price action is touching the $300k trendline hence either higher target or we are more likely to see the first 30% type pullback.
Why 30%? We can see those type of pull back end of 2017. So buckle up, make sure you put your stop loss orders in.
I did extend the volatility channel from the top of the $300k trend line down to the parabolic $100k trend line. So much more potential volatility to look out for.
Very difficult to predict the next moves. I am still long / bullish until July-ish, but right now neutral and carefully averaging back into some Bitcoin positions.
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Bitcoin is clearly showing by it's path over the last 3 weeks where it is potentially heading and on what type of parabolic trajectory.
If you project the last Bitcoin cycles growth after the breaking of the then all-time high ( ATH ) of $1.175 and reaching a peak at around $19.891 that makes a ~16.00% gain,
so projected to breaking the ATH at $19.891 that gives a potential target for Bitcoin at $336.657 around mid-August 2021.
If you then also take a look at the stock-to-flow model for Bitcoin you could derive another potential target at $100.000 around also mid-August.
That give us two trend lines and a volatility channel to watch for and use
The $300k upper trendline could be an indicator for resistance and the lower $100 target trend line a potential support level for each week.
Please note the massive potential increase in volatility each week as the trend lines between $300k and $100k spread out. Prices can rise or drop in a range of 20k, then 3 weeks later 40k and so on.
There is no guarantee (for anything) that Bitcoin will hover along on the upper trend line . And so far the initial pump buys above $30k maybe sending the wrong signals to some.
Also be aware nobody! really knows what the target will be and influences or black swan events (compare with Corona price drop in Q1 or the SECs suit against Ripple) could occur in 2021.
Bitcoin appears to be in the next complete madness cycles of ridiculous growth that pales all other asset classes.
I have shifted my assets accordingly and am also (of course) closely watching alt coins. For now particular ETH and LTC.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
* this is not financial advice, but my own personal opinion *
According to those Bitcoin is very aggressively pursuing maybe a even higher target then the lower $330k range or it is due for some major 30% type pullback.
Reason being that the trend line from the break of the all-time-high in 2017 to the new ATH end of 2017 would have been a higher boundary that was never really touched back then.
But the current price action is touching the $300k trendline hence either higher target or we are more likely to see the first 30% type pullback.
Why 30%? We can see those type of pull back end of 2017. So buckle up, make sure you put your stop loss orders in.
I did extend the volatility channel from the top of the $300k trend line down to the parabolic $100k trend line. So much more potential volatility to look out for.
Very difficult to predict the next moves. I am still long / bullish until July-ish, but right now neutral and carefully averaging back into some Bitcoin positions.
-------
Bitcoin is clearly showing by it's path over the last 3 weeks where it is potentially heading and on what type of parabolic trajectory.
If you project the last Bitcoin cycles growth after the breaking of the then all-time high ( ATH ) of $1.175 and reaching a peak at around $19.891 that makes a ~16.00% gain,
so projected to breaking the ATH at $19.891 that gives a potential target for Bitcoin at $336.657 around mid-August 2021.
If you then also take a look at the stock-to-flow model for Bitcoin you could derive another potential target at $100.000 around also mid-August.
That give us two trend lines and a volatility channel to watch for and use
The $300k upper trendline could be an indicator for resistance and the lower $100 target trend line a potential support level for each week.
Please note the massive potential increase in volatility each week as the trend lines between $300k and $100k spread out. Prices can rise or drop in a range of 20k, then 3 weeks later 40k and so on.
There is no guarantee (for anything) that Bitcoin will hover along on the upper trend line . And so far the initial pump buys above $30k maybe sending the wrong signals to some.
Also be aware nobody! really knows what the target will be and influences or black swan events (compare with Corona price drop in Q1 or the SECs suit against Ripple) could occur in 2021.
Bitcoin appears to be in the next complete madness cycles of ridiculous growth that pales all other asset classes.
I have shifted my assets accordingly and am also (of course) closely watching alt coins. For now particular ETH and LTC.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
* this is not financial advice, but my own personal opinion *
