BITCOIN 5month correction is over. Is 200k the minimum Target??

20 de ago.

Almost 1 year ago (September 05 2023, see chart below), we published the following idea on Bitcoin (BTCUSD), which very illustratively presented the potential course of the new Bull Cycle:

As you can see, BTC managed to trade an entire year rising within this green Arc pattern and always below the Cyclical Pivot trend-line that emerged from the bottom of the 2018 Bear Cycle.

Given that historically the Bull Cycle lasts post-Halving almost the time it lasted from the bottom to the Halving, we should expect its top around December 2025 - January 2026 and if it is on the Cyclical Pivot trend-line, then it could be as high as 400k.

However, even on a less optimistic scenario where it lasts 1064 days (152 weeks) from the Bottom (not counting FTX crash), like the 2015 - 2017 Bull Cycle, we can expect a peak a little over $200000 on the Cyclical Pivot trend-line.

It is important to notice that the 1W RSI is recovering from the overbought volatility correction, indicating that BTC should now resume the long-term bullish trend and make a new All Time High soon. Needless to say, the 1W MA50 has to hold, in order to support this bull trend as in all previous Cycles.

But what do you think? Has the market started the new bullish wave and if so, will it reach at least 200k? Feel free to let us know in the comments section below!

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