Bitcoin has been in an ascending channel in the past. Every time we experience an unbelievable All-Time High, Bitcoin loses more than 80% of its price before it can rise again to another ATH. The 2013 ATH was exactly 211 weeks before the 2017 ATH ( December of 2017), and if we assume the same it will take the same amount of time for the new ATH, the new ATH will again be on the December of 2021!
Depending on the time the price will hit the parallel line of the ascending channel,
BTCUSD
will be somewhere between $180k to $330k. 27th December 2021; Precisely 211 weeks after 2017 ATH, the parallel line of ascending channel is around $316k, which is also a major level of Fibonacci extensions. However, if the price hits the parallel line of the channel earlier or later, the price of the ATH will vary. No matter which price would the new ATH be, I anticipate bitcoin will lose more than 80% of its value afterwards.
Depending on the time the price will hit the parallel line of the ascending channel,
BTCUSD
will be somewhere between $180k to $330k. 27th December 2021; Precisely 211 weeks after 2017 ATH, the parallel line of ascending channel is around $316k, which is also a major level of Fibonacci extensions. However, if the price hits the parallel line of the channel earlier or later, the price of the ATH will vary. No matter which price would the new ATH be, I anticipate bitcoin will lose more than 80% of its value afterwards.