BTC monthly candle channel -update
NOTE - vertical lines are every January, so one year gaps.
Bitcoin is now entering into its 6th month of a tight range. PA has never done this before, and nor in such a controlled manner.
As a result, we are sitting mid way in the channel and this does point towards a dramatic rise, should we continue to follow the "Cycle".
This points towards December that PA is expected to break out over the upper Trend line and then head towards a new ATH.
This would loosely follow the previous occasions where PA rose over this line.
The dates were November 2013, October/ November 2017 and January 2021.
It is also worth noting how, on each occasion, PA has remained above the upper trend line Longer on each occasion, 11 months the last time.
IF, this plays out, we are looking at a new ATH towards end of this year, Next year that will be Over 190K USDT
Fingers Crossed
Bitcoin is now entering into its 6th month of a tight range. PA has never done this before, and nor in such a controlled manner.
As a result, we are sitting mid way in the channel and this does point towards a dramatic rise, should we continue to follow the "Cycle".
This points towards December that PA is expected to break out over the upper Trend line and then head towards a new ATH.
This would loosely follow the previous occasions where PA rose over this line.
The dates were November 2013, October/ November 2017 and January 2021.
It is also worth noting how, on each occasion, PA has remained above the upper trend line Longer on each occasion, 11 months the last time.
IF, this plays out, we are looking at a new ATH towards end of this year, Next year that will be Over 190K USDT
Fingers Crossed
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