Bitcoin $100k-300+ Target - Watch out for rising volatility
Bitcoin is clearly showing by it's path over the last 3 weeks where it is potentially heading and on what type of parabolic trajectory.
If you project the last Bitcoin cycles growth after the breaking of the then all-time high (ATH) of $1.175 and reaching a peak at around $19.891 that makes a ~16.00% gain,
so projected to breaking the ATH at $19.891 that gives a potential target for Bitcoin at $336.657 around mid-August 2021.
If you then also take a look at the stock-to-flow model for Bitcoin you could derive another potential target at $100.000 around also mid-August.
That give us two trend lines and a volatility channel to watch for and use
The 300k upper trendline could be an indicator for resistance and the lower $100 target trend line a potential support level for each week.
Please note the massive potential increase in volatility each week as the trend lines between 300k and 100k spread out. Prices can rise or drop in a range of 20k, then 3 weeks later 40k and so on.
There is no guarantee (for anything) that Bitcoin will hover along on the upper trend line. And so far the initial pump buys above 30k maybe sending the wrong signals to some.
Also be aware nobody! really knows what the target will be and influences or black swan events (compare with Corona price drop in Q1 or the SECs suit against Ripple) could occur in 2021.
Bitcoin appears to be in the next complete madness cycles of ridiculous growth that pales all other asset classes.
I have shifted my assets accordingly and am also (of course) closely watching alt coins. For now particular ETH and LTC.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
* this is not financial advice, but my own personal opinion *
If you project the last Bitcoin cycles growth after the breaking of the then all-time high (ATH) of $1.175 and reaching a peak at around $19.891 that makes a ~16.00% gain,
so projected to breaking the ATH at $19.891 that gives a potential target for Bitcoin at $336.657 around mid-August 2021.
If you then also take a look at the stock-to-flow model for Bitcoin you could derive another potential target at $100.000 around also mid-August.
That give us two trend lines and a volatility channel to watch for and use
The 300k upper trendline could be an indicator for resistance and the lower $100 target trend line a potential support level for each week.
Please note the massive potential increase in volatility each week as the trend lines between 300k and 100k spread out. Prices can rise or drop in a range of 20k, then 3 weeks later 40k and so on.
There is no guarantee (for anything) that Bitcoin will hover along on the upper trend line. And so far the initial pump buys above 30k maybe sending the wrong signals to some.
Also be aware nobody! really knows what the target will be and influences or black swan events (compare with Corona price drop in Q1 or the SECs suit against Ripple) could occur in 2021.
Bitcoin appears to be in the next complete madness cycles of ridiculous growth that pales all other asset classes.
I have shifted my assets accordingly and am also (of course) closely watching alt coins. For now particular ETH and LTC.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
* this is not financial advice, but my own personal opinion *
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