If we manage another cross close above the red line resistance then the first Target 1 is achievable $11550 ~ $12000!
Also if we compare historically then the yellow circled timeframe has similarities which saw a 134% rise which long term if repeated takes us to $17.4K ~$17.5K.
Well the "Diamond Pattern" came within spitting distance of reaching its target!
However, this just may have been part if a larger Elliott Wave Triangle which I originally thought might in play as part of the Wave 4 correction?
If this would be the case the Symmetrical triangle target estimated as break not known exactly would be...
Although this signifies the possibility of a Top it does not mean necessarily it is the ultimate top!
I have used category Triangle as they often are observed as back to back triangles.
Targets to be calculated as per link below for each scenario....of course the path may just keep going sideways which would probably invalidate this...
The question everyone seems to be asking is whether or not we will continue up in this channel or will we consolidate here around the Pivot in an ABCDE triangle pattern as historically happened back in 2015?
It seems possible this formation is in play but not certain!
The same pattern was self evident at the last "All Time High" but can also break up(throw-over) initially as well as down!