I have put together what I believe is the correct market forecast for the remainder of this Secular Bull Trend.
Currently, today, June 2024, we are in the middle of a monthly pullback/consolidation.
I have marked the low, that I believe will hold, with the grey box at price level 35,100-35,900.
Once broken out of the bull flag, price should shoot up to 44,000 before spending 24 months in a slow, grind higher up to 47,000.
Once the break out of the rising wedge in late 2027, price will now be on an accelerated trend of a parabolic nature to complete the final wave of the secular bull trend.
It will then hit its first peak at 120,000 and then proceed in a 30% decline, breaking the accelerated trendline and making its way back to the original trendline.
It will then proceed with another rally, making its way up to 150,000 for the final wave higher and the start of the Secular Bear Market.
Here is the monthly chart that I will use to enter my next buy at around price level 36,000 with my target at 115,000-120,000
Currently, today, June 2024, we are in the middle of a monthly pullback/consolidation.
I have marked the low, that I believe will hold, with the grey box at price level 35,100-35,900.
Once broken out of the bull flag, price should shoot up to 44,000 before spending 24 months in a slow, grind higher up to 47,000.
Once the break out of the rising wedge in late 2027, price will now be on an accelerated trend of a parabolic nature to complete the final wave of the secular bull trend.
It will then hit its first peak at 120,000 and then proceed in a 30% decline, breaking the accelerated trendline and making its way back to the original trendline.
It will then proceed with another rally, making its way up to 150,000 for the final wave higher and the start of the Secular Bear Market.
Here is the monthly chart that I will use to enter my next buy at around price level 36,000 with my target at 115,000-120,000
Nota
Nota
Here is how the rest of 2024 will play outWeekly
4 Hour
Nota
2024-2027 grind higher until the breakout and the accelerated trendline
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.