As you can see on the chart—the rise to ~300k—hitting the upper blue channel line for the third time seems to be quite the charm. There are two blue channel lines and two yellow channel lines; the blue channel encompasses the vast majority of BTC's price action and the yellow channel is meant to encompass the W pattern we've made recently and its relative breakout area for the run to ~300k. The white path represents a more price accurate and fluid representation of the whole chart over the years, and so does the dashed turquoise line, but they have different origins for variance purposes. If you notice, there are three green paths, which are all similar, but we mainly need to focus on the leftmost and rightmost green paths. There are two pink ellipses detailing the beginning and end of the green paths and an orange curve detailing the jump after said green paths. In short, BTC seems to be going into a fractal scenario from 2013, and I have linked my ETH chart below, which is doing pretty much the same thing, but from 2017.
Comment:
The expected drop following the rise to ~300k may or may not be similar to the drop in 2013, but if so, then we can see a drop back down to ~62k.
