BITCOIN broke above $13865 first time in 1020 days! What's next?

Finally the level we've all been waiting to break, did, after 1020 days! I have analyzed the importance of the 13865 Resistance level extensively on my most recent BTC idea:


The price even broke the 14000 barrier and almost touched the $14.3k target I set on the idea below:



** The 2 year Channel Up **
So what's next? Well in my opinion it is all about the 2-year Channel Up on the monthly chart (chart on the left) and the closing of the current 1M candle. Of course this is not the first time I use this Channel, it is something I initially published back in March and updated more recently in September, warning about this "big move" as seen below:


This is what I called at the time the underlying Channel and is essentially the pattern that took Bitcoin from the market Bottom of December 2019 all the way to where we are now on a rather sustainable for BTC standards Channel Up. What is more interesting is that since the March COVID fueled market bottom, every green 1M candle was always followed by a second. This chart also shows that the RSI is currently testing its own Resistance from February 2018. Breaking above it will be a clear sign of bullish continuation bias.


** The Fibonacci extensions **
I have applied the Fibonacci parameter on that Channel. As you see, only wicks on the monthly candles have traded outside the Channel with the 0.382 and 1.382 Fib extensions being fairly accurate containment levels. This occurrence may indicate that until we get a monthly closing above the 1.382 Fib, Bitcoin will continue to trade according to the Channel Up.


** The monthly close **
The chart on the right hand side shows how quickly BTC reaches its All Time High (ATH) after the price breaks the ATH Monthly (1M) Candle Closing. During the 1st Cycle (January 2013), it took a little over 1 month to each the ATH once the ATH 1M Candle Closing broke. In the 2nd Cycle (February 2017) it took less than 1 month. If that's the pattern really then we may hit the current ATH (20k) much sooner than what everyone thinks.


So what do you think? Is the current Monthly Candle as important as my current study suggests or you have a different indicator you are looking at waiting to give you a signal?

How soon do you think BTCUSD will hit its ATH? Feel free to share your work and let me know in the comments section!

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