Bitcoin (BTC) News Feature Image
  • Analyst finds correlations in BTC price with regards to Bitcoin halving. 
  • Peak to Peak angles reduce by almost half, and so does peak to 2peaks later. 
  • BTC touches the upper Bollinger band, it may retrace and thereafter reach $31,550

CryptCon Analyst made an observation on the BTC price pattern with regard to Bitcoin halving. In his forecast, he connects peak to peak, peak to 2 peaks laters, and bottoms to peaks. Once these have been connected with a line, then, the analyst finds some correlations and commonalities with respect to the angles. 

When connecting peak to peak, Cryptocon found out that the angle between two pairs of peaks was reduced from 39 to 21 -almost by half. Another commonality with every second peak was also observed. The analyst spotted that the angle was reduced by half from 29 to 16.

Furthermore, the analyst compared the peak with every third peak and found some correlation. Then, he also compared the bottom with the peak, the bottom with the second peak, and the bottom with the third peak and forecasted BTC prices for the future. As such, CryptoCon expected BTC’s next top could be 130k by Nov 2025, and even 145k by Dec 2025.

He further, confirmed his opinion to his followers saying that although $100K looks just impossible from the outset “When the path is laid out in front of you, price targets over 100k don’t look so unachievable at all.” He stated that the second top for 2029 is predicted at 170k.

BTC/USDT 1-Day Chart (Source: Tradingview)

The above chart shows that BTC rose vertically after touching the 1:1 Gann fan line. Currently, BTC is touching the 1:2 Gann line and there is a high chance that BTC could reach above $31,500K. However, since BTC has touched the upper Bollinger band, as such this creates a doubt whether BTC will rise and retrace. If the bears take over when BTC retraces, then, BTC could crash to $25,700. As such, traders may need to check the strength of the BTC uptrend with the volume or accumulation and distribution indicators. 

Disclaimer: The information and analysis are intended for informational purposes only. All views and opinions expressed should not be considered as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research before making any investment decisions. Any actions taken based on the information presented by Bits Logics are at the reader’s own risk. The author or any affiliated parties shall not be held liable for any direct or indirect damages or losses resulting from such actions.