A tale of 3 adjoined arcs
#BTC's price action rhymes in each cycle. Using chart patterns & log fib retracement, the current rally high, point of lift-off to the cycle peak & peak price are determined.
TLDR:
Current Rally high: ~$71K
Lift-off: ~$83K
Cycle Peak: ~$250K
#BTC's price action rhymes in each cycle. Using chart patterns & log fib retracement, the current rally high, point of lift-off to the cycle peak & peak price are determined.
TLDR:
Current Rally high: ~$71K
Lift-off: ~$83K
Cycle Peak: ~$250K
1a/ It is found that in each cycle around this time of the year, #BTC price will form two adjoined arcs similar to a cup & handle pattern.
The height of the smaller arc gives the price increase from the point of breakout to the rally high, which is also called #CTM Wave 2 Peak.
The height of the smaller arc gives the price increase from the point of breakout to the rally high, which is also called #CTM Wave 2 Peak.
1b/ The height of the larger arc gives the price increase from the point of breakout to the lift-off price level, from which #BTC will rally to its blow-off top.
BTC just broke out of the smaller arc. Thus, the current rally high is ~$71K. The lift-off price level is ~$83K.
BTC just broke out of the smaller arc. Thus, the current rally high is ~$71K. The lift-off price level is ~$83K.
2/ It is determined that the lift-off price level has been the 0.235 log Fib retracement from the cycle peak in past cycles.
If history rhymes, it is estimated that the cycle peak is ~$250K, which is within the target price range of the Top Cap Model.
If history rhymes, it is estimated that the cycle peak is ~$250K, which is within the target price range of the Top Cap Model.
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