BTC's Bull Flag to 100K
Bitcoin to 100k! Everyone keeps talking about it, but how are we going to get there? How did we get to where we currently sit?
Starting in December we had a steady increase in price with higher highs and higher lows, eventually forming a rising wedge and falling out of it in the beginning of April. Bitcoin needed to take a breath, and begin its next formation which will allow it to grow beyond its last All time high of 64,800.
When looking at the daily time frame, we can see price consolidating in what could be a large bull flag formation.
If we look to see how long the original wedge took to form, it was about 2 months. It should take until about the beginning of June to fullfil the flag that is forming, (2 months) From there, if we measure the pole and our pattern is fullfilled..... we could potentially see how BTC will make it to 100k! In what time frame? It took about 4 months for us to get where we are.. so hopefully by around the end of september we could see 100k!
Let me know your thoughts? Thanks!
Starting in December we had a steady increase in price with higher highs and higher lows, eventually forming a rising wedge and falling out of it in the beginning of April. Bitcoin needed to take a breath, and begin its next formation which will allow it to grow beyond its last All time high of 64,800.
When looking at the daily time frame, we can see price consolidating in what could be a large bull flag formation.
If we look to see how long the original wedge took to form, it was about 2 months. It should take until about the beginning of June to fullfil the flag that is forming, (2 months) From there, if we measure the pole and our pattern is fullfilled..... we could potentially see how BTC will make it to 100k! In what time frame? It took about 4 months for us to get where we are.. so hopefully by around the end of september we could see 100k!
Let me know your thoughts? Thanks!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.