I had this prediction a while ago already and on a longer term forecast from the lows of June/July or 32K level with a revisit of previous ATH, which we did achieve and pass little.
Most importantly is the inverted H&S in yellow, with the descending neckline around the 50K level, which implies a target of 85K, around year end.
I would like to mention already that I just checked a very bright analyst 'Alessio Rastani' from whom I watched a video of Nov. 1, explaining very technically the 200 EMA and seasonal habits bitcoin had in the past from End of October towards end of the year and more so until March the year after. I am so positively astonished as my target of 85K is directly aligned with his vision and in timing identical ! I believe though we have different methods of analyzing the chart, the result is surprisingly comparable, which gives me another reason to believe the accuracy of my technical analysis.
Alessio uses the 200 exp. moving average, which is visible on my chart as well (purple one), together with the 21 and 50 EMA. He explains the fact that we are above the 200 EMA at this period, there is a bigger chance to stay bullish, taking in account the 'Halloween-effect' which has been mostly bullish both for the stock market and for bitcoin.
The inverted Head and Shoulders in my drawing, together with the turquois ascending trendline and the year end, results in a level of exactly 85K. We have strong support between the 50 and 60K level from previous ATH. The only thing from which we could have a pullback is the yellow ascending wedge from which we could break to the downside to 55 or 50K worst case, as we have 3 big fractals of support built in the last year. A midterm target of 100K or more is around the courner and could be rapidly manifested and I also do believe that 300-500K levels are not excluded either. On the other hand we must consider the stock market too, and the DOW and S&P are nearing an overbought zone. I had calculated a top around 5K USD in February last year for the SPX, which is exactly on schedule as well with a level of 4670 USD at the moment of speaking.
A lot of people are bearish on the stockmarket and investments in general, but I think inflation wise, we could be able to see a steady continuous rise if inflation really kicks in. So eventually it will be harder to evaluate the real value of your investment and a USD or EUR comparison could be not so objective anymore to understand how much wealth one possesses in the future.
We call it a chart which crashes to the upside and not to the downside...
I hope until then crypto has gained massive adoption and the stockmarket will have lesser influence on bitcoin and ditto on the altcoins. And in my opinion the logic transfer would be the transition of traditional investments into blockchain. That's why the crypto chart looks more bullish than the stock market.
Hereunder the link to Alessio Rastani's video on youtube:
www.youtube.com/watch?v=hDQDwZta...
Most importantly is the inverted H&S in yellow, with the descending neckline around the 50K level, which implies a target of 85K, around year end.
I would like to mention already that I just checked a very bright analyst 'Alessio Rastani' from whom I watched a video of Nov. 1, explaining very technically the 200 EMA and seasonal habits bitcoin had in the past from End of October towards end of the year and more so until March the year after. I am so positively astonished as my target of 85K is directly aligned with his vision and in timing identical ! I believe though we have different methods of analyzing the chart, the result is surprisingly comparable, which gives me another reason to believe the accuracy of my technical analysis.
Alessio uses the 200 exp. moving average, which is visible on my chart as well (purple one), together with the 21 and 50 EMA. He explains the fact that we are above the 200 EMA at this period, there is a bigger chance to stay bullish, taking in account the 'Halloween-effect' which has been mostly bullish both for the stock market and for bitcoin.
The inverted Head and Shoulders in my drawing, together with the turquois ascending trendline and the year end, results in a level of exactly 85K. We have strong support between the 50 and 60K level from previous ATH. The only thing from which we could have a pullback is the yellow ascending wedge from which we could break to the downside to 55 or 50K worst case, as we have 3 big fractals of support built in the last year. A midterm target of 100K or more is around the courner and could be rapidly manifested and I also do believe that 300-500K levels are not excluded either. On the other hand we must consider the stock market too, and the DOW and S&P are nearing an overbought zone. I had calculated a top around 5K USD in February last year for the SPX, which is exactly on schedule as well with a level of 4670 USD at the moment of speaking.
A lot of people are bearish on the stockmarket and investments in general, but I think inflation wise, we could be able to see a steady continuous rise if inflation really kicks in. So eventually it will be harder to evaluate the real value of your investment and a USD or EUR comparison could be not so objective anymore to understand how much wealth one possesses in the future.
We call it a chart which crashes to the upside and not to the downside...
I hope until then crypto has gained massive adoption and the stockmarket will have lesser influence on bitcoin and ditto on the altcoins. And in my opinion the logic transfer would be the transition of traditional investments into blockchain. That's why the crypto chart looks more bullish than the stock market.
Hereunder the link to Alessio Rastani's video on youtube:
www.youtube.com/watch?v=hDQDwZta...