BTC MOST Likely Path Forward $44.2k by Jan 20th $61k by Jan 28th
Hi everyone, so here I have modeled BTC's price according to a very similar dump in 2017 where the price fell 28% from Nov 9th to Nov 11th and then the subsequent move in the days and weeks after.
Imho, this will be the most likely path forward. The H&S that everyone is afraid of will not play out and instead BTC's price will trend sideway for the next 2 days and then it will break above the 21 EMA (12H candle) on the 5th day from the moment we closed below the 21 EMA (12H candle) which is where I have the first black vertical line - should be Jan 15th (not 16th) - the moment we surpass the 21 EMA (12H).
From Jan 15th, we will rise higher and higher (likely no red 12H candles) until we reach a new ATH at 44.2k by Jan 20th (first green horizontal line).
From this new ATH, BTC will trend sideways for 4 days and then rise precipitously (37%) to the new ATH once again to $61k by Jan 28th.
Once we reach $61k on Jan 28th, we could see a 20-25% correction at month end. Thanks and hope you enjoyed this lesson in history. Please leave a like and follow.
Imho, this will be the most likely path forward. The H&S that everyone is afraid of will not play out and instead BTC's price will trend sideway for the next 2 days and then it will break above the 21 EMA (12H candle) on the 5th day from the moment we closed below the 21 EMA (12H candle) which is where I have the first black vertical line - should be Jan 15th (not 16th) - the moment we surpass the 21 EMA (12H).
From Jan 15th, we will rise higher and higher (likely no red 12H candles) until we reach a new ATH at 44.2k by Jan 20th (first green horizontal line).
From this new ATH, BTC will trend sideways for 4 days and then rise precipitously (37%) to the new ATH once again to $61k by Jan 28th.
Once we reach $61k on Jan 28th, we could see a 20-25% correction at month end. Thanks and hope you enjoyed this lesson in history. Please leave a like and follow.
Comment:
So far so good guys, BTC is trending sideways exactly as predicted for now - right under the 21 EMA allowing it to flatten before surpassing it by Jan 15th.
Comment:
And just to add, think how stupid it is for BTC to drop to 20k like many mainstream analysts are calling for... a 50% drop from the ATH would completely invalidate this entire bull market .... it's a really lazy and idiotic call in my view. It has less than 0.1% chance of occurring yet you 80% of the analysts are parroting it!
Comment:
Also, we are in early premium ALT season already ... look at how DOT is performing relative to BTC over the last 36 hours. There is a lot of money accumulating DOT as it's showing massive strength versus BTC and ETH and we will likely see DOT at or near $17 during BTC's next run to $44k and by the time BTC is $61k DOT could be mid-20s
Comment:
Just as predicted - we are still currently trending just under the 12H Candle 21 EMA which is currently (9:24 AM Eastern NYC Time) $35,170
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FYI ... look at DOT ... it just released its first parachain and will continue to outperform the rest of the market... it's the most premium alt one can own at the current moment:
Comment:
Very bullish undercurrents in BTC as price is now rising above the 21 EMA (12H candle) which sits at $35,281 as of 3:00 PM Eastern NYC time
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I may be wrong and this may be like the 2013 bull run and we could end up overshooting both of my price targets!
Comment:
And just like that... BTC went up and is starting trend sideways again as I predicted... it's following the shape of my projection, maybe not to a direct T but nearly identical in pattern.
Comment:
And like that we are coming back to the 12H 21 EMA folks... we got a little ahead of ourselves according to my chart but no need to panic, we should start to stabilize then rise into weekend heading into Jan 20