A bullish contunuation pattern (Bull Flag) is in the formation. On the breakout of the Channel Resistance we expect price to rise as high as the height of the Flag Pole.
IF SCENARIOS
From the previous Bitcoin Cycles we have seen most bull markets happen on the last quarter of the year to the first quarter of the following year. So we assume the same might happen on the next bull cycle.
1. If the breakout of the Flag is to happen before Jan 2023, our low should be in this $20k range and we should expect to see price rise to around $300,000 which corresponds the height of the pole from the breakout and retest point.
2. If scenario 1 doesn't happen we will more likely see price consolidate within the channel to a low not less than $15k and see breakout happening late 2023. After the breakout we'll see price rise to around $210,000 which is as high as the flag pole height.
IF SCENARIOS
From the previous Bitcoin Cycles we have seen most bull markets happen on the last quarter of the year to the first quarter of the following year. So we assume the same might happen on the next bull cycle.
1. If the breakout of the Flag is to happen before Jan 2023, our low should be in this $20k range and we should expect to see price rise to around $300,000 which corresponds the height of the pole from the breakout and retest point.
2. If scenario 1 doesn't happen we will more likely see price consolidate within the channel to a low not less than $15k and see breakout happening late 2023. After the breakout we'll see price rise to around $210,000 which is as high as the flag pole height.
