3 month log chart on btcThe 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*
