This analysis is to improve and reinforce the previous one with more details on every time sequence on chart and MACD and strength index indicators.
The Flag Mark indicates the approximation of predicted price in October.
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Kardar.
ETH-USDT Daily time frame,
In this analysis I tried to predict the price trend channel using patterns observed in a fibbonacci time sequence from May 12th, 2021 (ETH ATH) till October 6th, 2021.
This is a long term prediction based on daily and weekly time frames.
If any of the channel borders breaks, the analysis will update.
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Bitcoin is currently in a bullish channel and have potential to get to 50K in upcoming days if it doesn't break the floor of current channel.
If Bitcoin breaks the current channel in a downtrend direction, it would continue its ascending movement in a lower parallel channel.