Bitcoin weekly log chart

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This weekly log chart shows my view of the future of Bitcoin for the next couple of years. The trend line shows the minimum levels I expect to see, but I also anticipate BTC testing the $4200 point of control. This sits under the 100-week moving average and will set off a lot of alarms. Falling under $5000 could create a panic sell which will be bought swiftly by the whales. After that I expect BTC to move only higher and trade between $5700 and $8000 for at least a few months. ETFs could still change a lot of that.

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Here's another view of my idea above. The $5000 mark nicely represents the 100-week. Falling below this point and confirming the $4200 support will end the long term downtrend and move into a slow but lasting uptrend.

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ملاحظة

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P.S. The volume profile shows a potential 40% profit if bitcoin was bought at that $4200 support :)