(I also included a link to my post looking at the bearish prediction to counter this idea)
First is an image of the Weekly to show the current 5 wave prediction:
I personally lean more bearish towards bitcoin for the next year or so but as I explained in my post before it is always a mistake to not look towards both sides and find possibilities and targets.
What is shown here is a prediction of one ending Daily 5 wave impulse with a correction and another 5 wave impulse to follow it.
This fits pretty well for currently saying we could be on an ending Daily wave 5 as it looks like we could be within a rising broading wedge on the daily and the target reaches the 0.618 of the trend as shown.
If still bullish this would be the end of wave 3 on the weekly.
I have what would be a Weekly Wave 4 retracing back to the 56.5k area due to the measured break of the rising wedge. Also, it would be the 0.5 of a Fib retracement.
The Weekly image I included at the top does show the 77k area to be at the 0.618 but a push to the 0.786 is never out of the question.
The timing is based off of Gann's solar cycles theory as to why the dates are picked here. Quite accurate and a good way to keep from just picking random dates as timing is always the most difficult.
What is interesting is if these targets are hit on these dates then it will mean 2 more taps on that logarithmic curve that has been acting as the strongest macro resistance:
(note: more explanations within the image)
This type of bullish prediction is a bit boring I admit.
But the amount of capital needed to push this asset to over 100k needs to have more volume and more larger interests to jump in. Currently, volume has been decreasing for quite some time as shown:
The only way to see that happening is for a sizeable correction following a possible Weekly wave 5, and then wait and see if that draws in larger buyers. I would be watching for that within the indicators I use.
Seeing this happening at the 40k-45k range feels highly unlikely to me personally.
But if it does then I would say that the future targets after are far greater than 100k as smart money does not tend to buy into an asset unless they feel very confident a 10x+ return is possible.
Either way this in my opinion would take a good amount of time to reach some of the more bullish targets I have seen posted before (100k, 250k, 500k, etc.).
I am not going to post an ultimate target for this as it is truly impossible to do as everything beyond my price targets shown are purely speculative and I would just merely be guessing.
There could be many other bullish predictions, just for me I tried to find one that is both as realistic and balanced as possible.
Bitcoin is highly volatile but on a macro it has followed rules within many forms of TA fairly consistently and this is a fitting outcome.
***Disclaimer: I am not a financial professional/expert and all ideas from me are all speculation based off of my own research. Please do your own research as well as I am not responsible for others when it comes to their financial decisions.***
First is an image of the Weekly to show the current 5 wave prediction:
I personally lean more bearish towards bitcoin for the next year or so but as I explained in my post before it is always a mistake to not look towards both sides and find possibilities and targets.
What is shown here is a prediction of one ending Daily 5 wave impulse with a correction and another 5 wave impulse to follow it.
This fits pretty well for currently saying we could be on an ending Daily wave 5 as it looks like we could be within a rising broading wedge on the daily and the target reaches the 0.618 of the trend as shown.
If still bullish this would be the end of wave 3 on the weekly.
I have what would be a Weekly Wave 4 retracing back to the 56.5k area due to the measured break of the rising wedge. Also, it would be the 0.5 of a Fib retracement.
The Weekly image I included at the top does show the 77k area to be at the 0.618 but a push to the 0.786 is never out of the question.
The timing is based off of Gann's solar cycles theory as to why the dates are picked here. Quite accurate and a good way to keep from just picking random dates as timing is always the most difficult.
What is interesting is if these targets are hit on these dates then it will mean 2 more taps on that logarithmic curve that has been acting as the strongest macro resistance:
(note: more explanations within the image)
This type of bullish prediction is a bit boring I admit.
But the amount of capital needed to push this asset to over 100k needs to have more volume and more larger interests to jump in. Currently, volume has been decreasing for quite some time as shown:
The only way to see that happening is for a sizeable correction following a possible Weekly wave 5, and then wait and see if that draws in larger buyers. I would be watching for that within the indicators I use.
Seeing this happening at the 40k-45k range feels highly unlikely to me personally.
But if it does then I would say that the future targets after are far greater than 100k as smart money does not tend to buy into an asset unless they feel very confident a 10x+ return is possible.
Either way this in my opinion would take a good amount of time to reach some of the more bullish targets I have seen posted before (100k, 250k, 500k, etc.).
I am not going to post an ultimate target for this as it is truly impossible to do as everything beyond my price targets shown are purely speculative and I would just merely be guessing.
There could be many other bullish predictions, just for me I tried to find one that is both as realistic and balanced as possible.
Bitcoin is highly volatile but on a macro it has followed rules within many forms of TA fairly consistently and this is a fitting outcome.
***Disclaimer: I am not a financial professional/expert and all ideas from me are all speculation based off of my own research. Please do your own research as well as I am not responsible for others when it comes to their financial decisions.***
