Bitcoin long term possibilities

2

December 2020

By

Alex Cole

Articles abound with stories of Bitcoin target projections of over 300,000. Projecting so far out is an interesting intellectual exercise. But, let’s look at a long term chart of Bitcoin using monthly data.
If this is an ascending triangle with an upside breakout, and if price can get above the all time high that is the high of the pattern, then a projected dollar move based on the widest part of the triangle is around 30,000.
Now, we are using a log chart because the price swings have been so large that it makes sense to do so. If we project the price move based on the percentage gains that span the width of the triangle, then we end up close to 100,000. If we take a projected move based on the size of the rally into the triangle, then yes, we are around 200,000. Could it be possible?

get in touch

Mon - Fri 8:00 - 16:00
Subscription Form
research
$1.99 / week
Trend Analysis and Charts Delivered Weekly
Flight Path
Pre-Market Monday Morning
Launch Conditions
Delivered Every Saturday Morning
Research Chart Pack
16 GoNoGo Charts Included with Every Report
Premium
$9.99 / week
Daily Research
Flight Path
Pre-Market Monday Morning
Launch Conditions
First Thing Saturday Morning
Daily Blast Off
Pre Market Daily
add-ons
Deploy GoNoGo Indicators on Your Favorite Platforms