Many have plotted similar log charts but I think this is the most accurate representation. I believe the middle trendline is important and we have already had the retest below so I lean towards the next large 40% pullback coming from much higher up. My Initial price range estimates are between $200-280K but my lowest conservative estimates are $150-200K, just simply based on the info in this chart and the current macro environment, assuming nothing major changes. Date range of May to October, more likely June to October &
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Eyes on $50-52K short term before any further upside now that ATH has been broken to the downside. As low as $47 in play this week, stay careful but likely also a great dip buy opportunity, played as a bounce or held longer term. Long term outlook has not changed.
This is correct, because bubbles never pop. This is especially true when the asset has no intrinsic value.
JouniEskelinen
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Did you just "copy" my chart from few das ago and added fancier look?
Philip_Beauford
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@JouniEskelinen, Literal 1st thing I mentioned was so many people have similar log charts out, mine (and yours) are simply fine tuned from our perspectives.
Literally the 1st thing I said.. then said heres my finely tuned interpretation. Which is definitely different from yours.
I have distinct midlines, different topline angle, different prediction ranges with very clear explanations.
Your chart is nice, mine is nice but none are 'ours'.
Its all the same BTC log chart, everyones watching the same charts.
I plot all chart lines on bare chart 1st, then take in other trusted/vetted TA.. maybe then I fine tune my own or not, just like all my TA. (most traders btw)
I have plenty of posted ideas here & twitter that have nothing to do with anyones TA and most were correct.
All log charts online are my inspiration. Everyone has a slightly different perspective of the same thing, yours is no different.
JouniEskelinen
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@Philip_Beauford, ok, true. Sorry. I admit, I got jealous of the likes..
Damn these cryptoes go under the skin. It so easy to go irrational.
Philip_Beauford
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@JouniEskelinen, np likes all around. Your chart is great, Im sure we will both do well if we keep at it. Thanks
Philip_Beauford
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@JouniEskelinen, also going to point I actually updated this chart idea of the potential drop to $50-52K well before 53k hit, did you?
No copy trading here.
AndreiGostev
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need a correction? agree in June? ..
Philip_Beauford
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@AndreiGostev, last cycle at the 6k spot price just melted sideways/up for 3-4 straight weeks.
That was right after breaking a 2nd ATH so I think we could easily see something similar now.
As long as the sideways movement stays above the midline all should be clear for further push up.
The higher price goes in the near term, the deeper the correction will be so going sideways or melting up slowly here for awhile maybe healthy.
Just need to watch.
AndreiGostev
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@Philip_Beauford, Thanks for the answer! from May to October, is it more likely, from June to October, are you expecting an increase or a pullback?
chexone
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Nice chart. Do you think there’s a chance the halving cycle pattern does not repeat itself, and that with the increase in institutional buy in, we will not see another 3 year winter after the expected top?