On a weekly chart there is a visible bullish flag that took about 2 years to develop. Bullish flags happen about midway through the bullish moves. My forecast is just an extrapolation of a price action that happened prior to the bullish flag formation.
I expect:
1. brief pullback to $173 sometimes in the next week or so
2. Run to about $207.5 by mid Sep
3. Pullback to all the way of $166 (maybe even lower) by mid Nov
4. Run to almost $234. Wider range of time (Jan-Mar ‘24). Feb being most likely scenario.
5. Another pullback to $176 by late Mar- early Apr. This move can be very quick/short lived.
6. Strong run to $466 by Sep-Dec ‘24. Sep being most likely.
7. This would suggest in Sep ‘24 or a bit later we get overall bear market. Up until then just some brief corrections.
This is pretty detailed and obviously could be invalidated and tossed into trash if price starts to make unexpected moves. But worth keeping an eye on considering possible magnitude of the move.
I expect:
1. brief pullback to $173 sometimes in the next week or so
2. Run to about $207.5 by mid Sep
3. Pullback to all the way of $166 (maybe even lower) by mid Nov
4. Run to almost $234. Wider range of time (Jan-Mar ‘24). Feb being most likely scenario.
5. Another pullback to $176 by late Mar- early Apr. This move can be very quick/short lived.
6. Strong run to $466 by Sep-Dec ‘24. Sep being most likely.
7. This would suggest in Sep ‘24 or a bit later we get overall bear market. Up until then just some brief corrections.
This is pretty detailed and obviously could be invalidated and tossed into trash if price starts to make unexpected moves. But worth keeping an eye on considering possible magnitude of the move.
