3 month log chart on btc

24 feb 2023

The green symmetrical triangle pattern that also doubles as a bull pennant here on the 3 month btcusd log chart gave us 100% exact precision on the measured move just from the triangle portion of the pattern. We can see the measured move from the triangle alone was the exact top of the recent bull market exactly. We can also see the correction we had the past year that most are considering a bear market did not even come close to retesting that green triangle and likely will not. That means the actual bull pennant that triangle is part of is still very much in play. When you attach the pole to the pennant you get a much much higher target. It may not fully reach this target for at least two more bull cycles but this target is still very much in play and it likely will reach 586k this decade. In the mean time we can see in yellow here a smaller pennant fractal that is most valid on the 1 week and 1 month charts. If it behaves similarly to the larger shape, then we should see the first significant correction of the current uptrend occur after reaching the measured move breakout of the wedge around 49-52k. Odds are good the correction even if steep will still result in a higher low and continue the macro uptrend at that point to the full measured breakout move of the yellow pennant somewhere around 148-150k. I think then we would probably see another bear season and it is after that bear season we would likely finally start heading to the full measured move breakout target of the larger green pennant in the 580-590k region. Of course for now the timing on all this is still heavy speculation but I thought it would be fun to post just to see how closely it follows my prediction. My guess is it can reach the highest price target on this chart before 2030, maybe even by 2028 or if we’re lucky even sooner. *not financial advice*

25 feb 2023

Nota

By the way when I drew th pole for the smaller yellow pennant I drew it based on the monthly chart. However looking here we can see on the 3month chart the pole extends down further into the green triangle even. If we were to take the longer 3month timeline measurement of the pole it gives us a full breakout of the yellow descending wedge pennant of around 262k, so if we reach the 149-150k target and then continue to pump significantly above it the next target to watch for will be that full 262k target(not shown here)

14 feb

Nota

Getting very close to hitting the first lowest target here of the yellow wedge pattern not including the flag pole of its pennant just yet.

15 feb

Nota

And just like that 1st target hit!

14 mar

Nota

2nd Target hit! The symmetrical green triangle(that is also a pennant)’s breakout target of $69736 officially hit! Next bullish target for these 2 pennants is the full yellow pennant’s target at 149622! There are other non log chart patterns at play currently too that aren’t shown here. A smaller bullflag on the linear chart has a breakout of just the channel part of its flag of 82K so that’s really my next target and then after that, its full flag target is right at 99.8-100k. I think I may have an inverse head and shoulders somewhere too with a 110-120k breakout target in the works..but after those this yellow pennant’s target of $149622 is the one to watch. Hopefully we hit it this bull market. Would be absolutely phenomenal if we somehow hit both pennant full targets this bull run, but most likely that odds favor the highest target on this chart to be at5 least one more bear market bull market cycle away if not 2. Hopefully we go against the dds and the spot ths moon us to that target for this run though :P

14 mar

Nota

One could also argue the flagpole of the yellow pennant could extend further down into the green symmetrical triangle all the way until the consecutive green candles run into a red candle to their left. If one was to measure the flag pole from the extended form the target would be much higher probably closer to 300k if not even higher.