$ProShares Bitcoin Strategy ETF(BITO)$ With the recent price increase in Bitcoin, a lot of our users at CryptoEQ are asking where the Bitcoin price will go from here. I decided to reveal my projection for what a blow-off top could look like for this bull run. Our premium users got a first look at this projection last week.
This projection mostly focuses on 2 indicators: Bitcoin Logarithmic Growth Curves and DeMark’s Sequential indicator.
The sequential indicator predicts a 9 to 13 count bullish or bearish pattern. I project that we will see a bullish pattern for Bitcoin on the weekly chart and I believe it will be a 9 count run. It appears that we are on the 3rd candle now so we will likely see 6 more candles. I expect the 5th or 6th candle to have a large pull-back, as it is often seen when this pattern plays out. By the time we reach week nine, I would expect us to be over $100,000. While it can be difficult to predict the exact top, $100,000 to $125,000 would fall well within the logarithmic growth curve.