Technical analysis by AspiringPro about Symbol BTC: Buy recommendation (6/5/2024)

This all seems familiar to me... BTC has popped off from its cycle low and shown us market participants that it's alive, and now its consolidating around the previous cycle high. This log regression fits quite nicely over Bitcoins steady, exponential and almost linear rise. It would appear that BTC will break out of the regression channel at around $110.000-$120.000, at which point it would be time to start scaling out - hastily, though not all at once. This is my strategy, anyway. And, it will have to be adjusted along the way as it'll likely be front-ran by larger and more sophisticated investors, institutions, and governments.Decided to test my predictive power today - I'm calling a cycle top of +-$125,000, in '25Q2 - '25Q3. Firstly, according to classical charting, the cup and handle structure we just broke out of suggests this target ((71-16)+71)=126), where 16k is the cup bottom, and 71k is the rim. Secondly, the log regression red channel top reflects this as well. This channel is likely to rise given the nature of MA's, but as it stands now, 125k it is. BTC can blow past this target and move outside of the red channel like previous cycles, OR it can get front ran by the many powerful institutions that are now in crypto. There are a lot of nuances, but I think, on average, 125k is in play.