Overview of the Bitcoin Megabull's Parallel Bull Channel

23 Apr 2021

Hi all,

This long-term chart is building up on previous ones I shared on Tradingview before about Bitcoin being delimited between the top and bottom of the bull parallel channel on the log scale. So far if this was the bottom at $47.7-48K then the channel's bottom has held and we are ready to grind up and go into sideways to 54.5K-59Ks until May 4-5th before we start grinding up to 120K~ by June 5-6 which would hit the top of the bull channel at that time.

I still think that Bitcoin will end up performing a dual bull run in 2021 with the first top somewhere near $120-140K top of my log-parallel channel (see charts) by June 6 -July 7 then a mini bear trend with a potential bottom at $75-65K followed by the last bull run with a top near $300-440K by Nov-Dec 2021.

Here is a zoomed in linear short-term chart of this chart for reference:

Megabull final ATH targets to sell at before the Bear Market starts:
$120-140K - Sell 10% and withdraw to bank account
$200-250K - Sell 20% and withdraw to bank account
$300-440K - Sell 70% and withdraw to bank account

Best of luck and happy trading!
Carl M.

26 Apr 2021

Nota

Looking good looking good for a bottom at 47Ks. Revised the chart slightly. The parallel channel's bottom support is in imo as well. Few weeks of sideways on Bitcoin which gives ALTS ample chance of making big gains till end of May after which we sell them for BTC and BTC runs to 100K!