Crypto Analysis | BTC moving towards $400k

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Join me in analyzing the crypto markets!

 

Time for another BTC update

My last look at BTC was already 4 months ago and so far it has anticipated the market movements quite well. Here is the outlook from back then:

I think separating the market into these 3 phases has been a very good insight (nothing new ofc, but it's nice how it fits into the chart). This would suggest a continuation along the widening channel for the next 1.6 years or so with a more pronounced upward movement towards the end of the cycle. Should this happen once again, it's a rather curious phenomenon that this continues to happen as expected. But maybe BTC has just gotten so big that manipulation is very difficult.

Now let's look at what happened:

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Price has essentially moved exactly in the middle of that channel - a very good model so far! I have zoomed out a bit to show a bit more context. At this point in the last cycle we were now just going through the "corona panic" which had BTC dipping to $3k again. That was an anomaly and price would have otherwise stayed between $7k-$9k. In other words, should we not have a black swan event, it seems perfectly reasonable to assume that price will continue along the channel outlined above.

Should price evolve in a simliar fashion, we could probably expect it to move something like this:

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We'll probably stick around that average until the end of 2024 when we would enter the "bull run climax" phase. As you can see I got a high $400k target in the chart. With the supply crunch we are already seeing now I am starting to think that is a very reasonable target for this cycle.

 


As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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For those who already know this market, this news is very excited and they know that the coming year is going to be very good for this market and Bitcoin which is my analysis. It will go from one to one and a half million dollars.

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I thought you werent bullish enough for a moment there! 😅

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Funny times start come back 😁👌👌 lets see how this market play out .

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You were bullish at the end of the post, I'm also thinking the market might begin to enter proper bull run by Q4 this year.

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this should be especially the case for alts I am hoping

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