Speculation is just that, only speculation. Ideas to guide your trading and/or investing journey. I put a good amount of time in researching and charting over the last year to specifically develop this thesis. I hope you enjoy and please like and share, even if it's to ridicule my analysis!
With that said, it looks like there are three scenarios that are 'most' likely to play out over the next 2 years:
Scenario 1: Worst case (Red Path). Bitcoin ETF's are denied and/or a major market crash happens beginning Dec '23 or Q1/Q2 '24. Targets are the lower channel back at bear market bottom, the Value area low (Blue) & nPOC (naked point of control sitting above VAL) or below, to include CME gaps of a. 20.3k b. 9.7k & c. 3k at the very worst. 12k bears will rejoice. I for one will be selling the farm and my first born at 9k or below.
Scenario 2. Bitcoin ETF delays (Orange Path). The range continues with a top off near the Macro VAH at about where price stands as of today, 11/11/23 @ 37k-39k. Price would most likely seek to validate back to fair value at 32k, and then retest down to 20.3k for the CME gap fill creating one of the most powerful patterns as an inverse head and shoulders. Given the channels, this seems the most likely with an upside target to the VAH again near dump of April/May '22 and now resistance at 48k. Target is summer of '24.
Scenario 3. Moon boy status (Green Path). This means the Bitcoin ETF was approved prior to any fundamental problems (ie FTX 2.0, WW3, declared depression, etc) and no need to wait for price to come down past 32k, possibly ever.
B. There is the possibility of a priced in ETF scenario that allows for the channel to stay valid. In this case, if price action does not moon over 48k up to ATH's, it likely sets a re-accumulation zone above 48k, playing within the upper channel, with a last dip into the 30k's before we see ATH's.
Either way, Bitcoin is ready to rock and roll.
Now to the less juicy part of this bull run. Give the diminishing returns as most assets have as they age, it looks like 100k is going to be the biggest and baddest of all resistance from a percentage standpoint. Gone are the days of 33k% gains. From the top of each market cycle to the next top we go from over 1k% to now 250-ish% last cycle.
Here's where I 'm at from a charting and fundamental stance:
Bitcoin gets a 44-54% blow off top (Shown in price range) from previous ATH's up to 100k-ish. If it's more, great, sell because you've been stacking or you're long. Buy your lambo, more power to you. However, given the current M2 issue, loan maturations (refinancing in '25 from 2.9% to almost 5%) as well as the overall credit and savings crisis, Bitcoin's blow off top could be in the 80-88k range. That would put the total market crypto cap at ATH's of 3.5-4 Trillion range. If Chairman Powell decides to turn the printers on for 2025, then some of the moon boi's out there may see 150k, so we all win anyway from a plebs perspective. #Stackon
With that said, it looks like there are three scenarios that are 'most' likely to play out over the next 2 years:
Scenario 1: Worst case (Red Path). Bitcoin ETF's are denied and/or a major market crash happens beginning Dec '23 or Q1/Q2 '24. Targets are the lower channel back at bear market bottom, the Value area low (Blue) & nPOC (naked point of control sitting above VAL) or below, to include CME gaps of a. 20.3k b. 9.7k & c. 3k at the very worst. 12k bears will rejoice. I for one will be selling the farm and my first born at 9k or below.
Scenario 2. Bitcoin ETF delays (Orange Path). The range continues with a top off near the Macro VAH at about where price stands as of today, 11/11/23 @ 37k-39k. Price would most likely seek to validate back to fair value at 32k, and then retest down to 20.3k for the CME gap fill creating one of the most powerful patterns as an inverse head and shoulders. Given the channels, this seems the most likely with an upside target to the VAH again near dump of April/May '22 and now resistance at 48k. Target is summer of '24.
Scenario 3. Moon boy status (Green Path). This means the Bitcoin ETF was approved prior to any fundamental problems (ie FTX 2.0, WW3, declared depression, etc) and no need to wait for price to come down past 32k, possibly ever.
B. There is the possibility of a priced in ETF scenario that allows for the channel to stay valid. In this case, if price action does not moon over 48k up to ATH's, it likely sets a re-accumulation zone above 48k, playing within the upper channel, with a last dip into the 30k's before we see ATH's.
Either way, Bitcoin is ready to rock and roll.
Now to the less juicy part of this bull run. Give the diminishing returns as most assets have as they age, it looks like 100k is going to be the biggest and baddest of all resistance from a percentage standpoint. Gone are the days of 33k% gains. From the top of each market cycle to the next top we go from over 1k% to now 250-ish% last cycle.
Here's where I 'm at from a charting and fundamental stance:
Bitcoin gets a 44-54% blow off top (Shown in price range) from previous ATH's up to 100k-ish. If it's more, great, sell because you've been stacking or you're long. Buy your lambo, more power to you. However, given the current M2 issue, loan maturations (refinancing in '25 from 2.9% to almost 5%) as well as the overall credit and savings crisis, Bitcoin's blow off top could be in the 80-88k range. That would put the total market crypto cap at ATH's of 3.5-4 Trillion range. If Chairman Powell decides to turn the printers on for 2025, then some of the moon boi's out there may see 150k, so we all win anyway from a plebs perspective. #Stackon