I have been trading bitcoins on and off for a while now and I see many different numbers get thrown out such as BTC will hit $50K, $100K, $200K, $500K, $1M, and I agree that every single price prediction is correct, however the real question is when? Ok so we have these insane predictions, but how many bear markets will there be in between before we reach these ridiculous prices here is my bitcoin technical analysis with years of experience using many different indicators such as MA, Pi cycles, and Logarithmic Regression bands. This technical analysis will make all you 🌈 🐻 salivate.
Here is the graph of Bitcoin ranging from 2013-2019, using the bitcoin logarithmic regression bands we can see how bitcoin played out historically, As you can see anytime we have hit the red upper regression band we have gotten nasty 80%-85% corrections, than using the orange regression lines as a bear market support trend, besides the early 2013 peak where we had a local top at the light purple line.
Here is the 2017 bull run, the 2 cyan lines is what we call a Pi cycle top and when they cross that is what we call a theoretical peak, now what is a Pi Cycle Top? A pi cycle top is useful to indicate when the market is very overheated. So overheated that the shorter term moving average, which is the 111 day moving average, has reached a x2 multiple of the 350 day moving average. Historically it has proved advantageous to sell Bitcoin at this time in Bitcoin's price cycles.
This is a graph from the current bull run as you can see the Pi cycle top indicators are getting very close as the time of me writing this they are only 4.60% apart, which maybe around ~30 days before crossing, along with hitting the upper logarithmic regression band(red line) this would give us double confirmation of BTC most likely capitulating.
Now lets look at the Dow, as I believe bitcoin is going to go on a parabolic phase up to the regression band keyword \"PARABOLIC\" before giving us a blow off top. Now let's use that to speculate with the Dow. As you can see we have been steadily climbing up with a steady trend line, and now today it looks like the Dow wants to go parabolic before possibly giving us a blow off top It may coincide with bitcoin, HOWEVER this is just a Dow speculation.
As you can see bitcoin is on it's last parabolic leg up, before giving us a potentially huge correction, which will give us opportunities in the market to go for puts on $BTC, $RIOT, $MARA, $MSTR, $TSLA because these coins and stocks are highly correlated to bitcoin. Also if Dow decides to go parabolic along with BTC, I wouldn't be surprised if Dow is headed for a blow off top.
Here is access to the charts that I have created using these specifics indicators for BTC
https://www.tradingview.com/chart/Lr3z0k9u/
It's very very hard to predict a financial crash, however the more knowledgeable we are the more we are able to prepare for certain events, I am not a financial advisor.
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