BITCOIN Can we see 100k in May? A crazy fractal!

I'm going to give you your daily dose of euphoria with this idea and for that I'm going to keep it nice and short! Joking aside, this one is indeed one crazy fractal, but so far it has been playing out perfectly.

On the left chart we have Bitcoin's price action in 2020/2021 and on the right chart the Parabolic Run of 2016/2017. I will not get into much detail but as you see the two sequences are fairly similar. Based on the 2016/17 fractal, it appears that we have currently completed wave (4) and are about to start leg (5). I am not implying that this will necessarily be the peak of the current Bull Cycle, even fractals on different time-frames have applications on price projections.

If however this fractal plays out entirely, then wave (5) may be completed inside May and it can be anywhere within 100k-150k! That is based both on the Fibonacci levels on the time scale (blue Fibs) as well as the Fibonacci extension that points out to a 1.5 ext!

So can we get to 100k faster than most think? What's your view on this fractal? Feel free to share your work and let me know in the comments section!



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Comment:

There seems to be much confusion about the 1-2-3-4-5 markings. I haven't applied the EW theory here, if I had I would have said so in the analysis. I used the numbers as a pure illustration of the identical price sequence. Those who follow me for long know that I normally use (a), (b), (c) etc marked separately, but this time using the lines was quicker. I won't do that again to avoid such confusion.