This is not financial advice and should not be taken as such. this will show which way momentum is going. There is only one thing for sure, Bitcoin will surprise everyone. My speculation is bitcoin moves towards the top first and then touch the lower part of the band later next year at relatively the same price point as now which would mark a double bottom that ultimately sparks the new bull run. Just purely on looking at this lower band and assuming that we have a new bull market that tops in March of 2025, price point is showing a possible of just over 200k top. I do not believe we ever go to top of the band ever again and could possible be the new resistance point for future bull market tops. I do believe the top of this lower band could be the top of Bitcoins next bull run and the bottom of could be the bear market, of course only time will tell. In my opinion the only questions that remains is which line will be touched first and what will be the path. To confirm this theory we need two touches, one on top and one on the bottom. The point is to take a dive into the indicator called the BTC log regression to the lower part of the band and it's most likely could be the new trending range. Monero according to the Ichimoku strategy rules is already full bullish trending outside of the cloud.Ģ4 1 5 0 Will Bitcoin ever break above it's old trend line again ? The point of this chart is not to look at future peaks, although we will touch upon it. Interestingly Monero is demonstrating MORE bullishness. Ethereum becomes full on bullish with time and/or capturing 1700. Much like Bitcoin price has closed outside the Ichimoku cloud but Momentum still lags. the other major cryptocurrencies to watch are doing similar patterns: Watch this weekend and into next week for the move to continue. The price for this to happen in the near term is around 21900. The next key indicator to consider Bitcoin properly in a bullish trend is for Momentum (aka Lagging Span, Chikou) to close outside of the Ichimoku Cloud. I even did a study proving that the performance of using this strategy outperforms even HODLing the whole time. Using the Daily Ichimoku Cloud indicator on the traditional setting (9, 26, 52, 26) has been an accurate tool in defining the trend of Bitcoin going back over a decade. 15 1 3 6 Hope Is Kindled: Bitcoin Going into the Weekend For the first time in many months the price of Bitcoin COINBASE:BTCUSD has pushed a closing bar outside of the Daily Ichimoku Cloud.
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