Bitcoin to $100 K but 20% correction possible in the next weeks
Hi,
as you can see, we are in a clear trendline to $ 100K at the end of the year, but the price will at some point have to correct to the 100 days average line!
The points at the numer 1 and 2 are weeks, which closed red, but did not correct to the 100 days average line. This happened 2 times at the beginning of a bullmarket and also 2 times at the end of a bullmarket. Then the 100 days average line was tested and at the beginning of the bullmarket rejected and at the end broken.
This constellation expresses an initial and ending emotional hype phase in this market. You need one initial hype phase to start a bullrun, to get over the depression and there is always a mania at the end. I see the ignorance of the 100 days average in the weekly chart as a sign of this.
We are now at he initial hype phase to the actual Bullrun. Although a strong correction to the 100 days average line will happen. BTFD if we test the 100 Days average line!
This Bullrun will shock the world!
Red line: "Stock to flow" line ( thx to Plan B)
Blue line: "Market high" line
Yellow line: BTC halvening
M1: Bitcoin time traveller Meme Price
(which also correlates with the Stock to Flow theory in which the price frontruns( $ 100k in 2019) the Stock to flow halvening price.( $ 55k in 2020 )
Bye
as you can see, we are in a clear trendline to $ 100K at the end of the year, but the price will at some point have to correct to the 100 days average line!
The points at the numer 1 and 2 are weeks, which closed red, but did not correct to the 100 days average line. This happened 2 times at the beginning of a bullmarket and also 2 times at the end of a bullmarket. Then the 100 days average line was tested and at the beginning of the bullmarket rejected and at the end broken.
This constellation expresses an initial and ending emotional hype phase in this market. You need one initial hype phase to start a bullrun, to get over the depression and there is always a mania at the end. I see the ignorance of the 100 days average in the weekly chart as a sign of this.
We are now at he initial hype phase to the actual Bullrun. Although a strong correction to the 100 days average line will happen. BTFD if we test the 100 Days average line!
This Bullrun will shock the world!
Red line: "Stock to flow" line ( thx to Plan B)
Blue line: "Market high" line
Yellow line: BTC halvening
M1: Bitcoin time traveller Meme Price
(which also correlates with the Stock to Flow theory in which the price frontruns( $ 100k in 2019) the Stock to flow halvening price.( $ 55k in 2020 )
Bye