BTC two medium term paths
BTC Still hasn't broken out of its recent channel. During the last major bull run BTC went up about 163% in 6 weeks, down 43% in 4 weeks, up 163% in 8 weeks, down 40% in 2 weeks, up 158% in 8 weeks, down 30% in 1 week, and finally up 262% in 5 weeks, followed by a 70% correction.
In this buill run, we have followed this pretty closely so far, which is how I reached my bullish path prediction of mid to high 70's, followed by a 43% correction. However, history doesn't always repeat itself perfectly etc, so I can imagine we break out of the channel and pull back about 30 to 33% over the next 2 weeks, before continuing upward.
For educational purposes only. Just sharing what I'm seeing.
In this buill run, we have followed this pretty closely so far, which is how I reached my bullish path prediction of mid to high 70's, followed by a 43% correction. However, history doesn't always repeat itself perfectly etc, so I can imagine we break out of the channel and pull back about 30 to 33% over the next 2 weeks, before continuing upward.
For educational purposes only. Just sharing what I'm seeing.
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