BTC - Update1 - Break-out soon / $100,000 by September
UPDATE 1
I just wanted to add that the blue and purple trendlines are the price's lower bounds. As is often the case, the price rises in bursts well above these trendlines. So BTC could very well hit $100,000 several weeks before September 1st, perhaps as early as June/July.
ORIGINAL
Despite some sluggish consolidation recently, BTC is still on its longer-term trendline (blue). This trendline started when BTC finally broke through its all-time high of around $20,000 back in December 2020.
From that point in December, we see two trendlines (blue and purple) which are quite close to each other. According to the higher blue trendline, BTC should hit $100,000 by September 1 of this year. According to the lower purple trendline, it should hit $85,000 by September 1.
Presently, BTC is close to the apex of a consolidating wedge (orange). It should break out of this wedge by the middle of this month.
So despite the recent stagnation, BTC is still on its aggressive path since clearing the $20,000 all-time high.
I just wanted to add that the blue and purple trendlines are the price's lower bounds. As is often the case, the price rises in bursts well above these trendlines. So BTC could very well hit $100,000 several weeks before September 1st, perhaps as early as June/July.
ORIGINAL
Despite some sluggish consolidation recently, BTC is still on its longer-term trendline (blue). This trendline started when BTC finally broke through its all-time high of around $20,000 back in December 2020.
From that point in December, we see two trendlines (blue and purple) which are quite close to each other. According to the higher blue trendline, BTC should hit $100,000 by September 1 of this year. According to the lower purple trendline, it should hit $85,000 by September 1.
Presently, BTC is close to the apex of a consolidating wedge (orange). It should break out of this wedge by the middle of this month.
So despite the recent stagnation, BTC is still on its aggressive path since clearing the $20,000 all-time high.
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