Summary Bitcoin's post-election rally hit $100k rapidly, and then paused, with a follow-on 50% surge to $140-160k beginning soon. Weekly charts indicate a powerful Wave 3 rally, attracting institutional money, with a target of $145k by February before a potential correction. Monthly projections suggest Bitcoin could reach $300k by April, with significant upside potential as RSI extends into its red zone. Bitcoin's adoption as a form of money is accelerating, supported by pro-crypto policies and a shift towards productivity and innovation in financial systems. My previous calls for a strong Bitcoin ( BTC-USD) bull run following the long sideways consolidation between March and October has been proven out by market action. The post-election rally reached $100k in record time, and after a two week sideways churn, chances are high that it's about to begin another 50% rally. Targets for this next push range from $140-160k. Short term chart: TheBullBear.com, TradingView Garden variety sideways triangle pattern, looks to have completed. TheBullBear.com, TradingView TheBullBear.com, TradingView The sideways pattern enabled a decent pullback in daily RSI from its upper red resistance zone, setting up the next push. If it keeps to trend, contact with the upper channel rail comes sometime in January at about $140,000. TheBullBear.com, TradingView Weekly chart: TheBullBear.com, TradingView The longer term chart shows that this is the 5th wave of a Wave 3, which historically has been one of the strongest wave positions. It's at this point that the rally broadens and those who have watched from the sidelines start to throw money onto the table. In this case, that's going to include big institutional money, as MAGAnomics seems to favor Bitcoin and the regulatory and tax environment for investors is about to get a whole lot more accommodating. Weekly chart seems to indicate $145k by February, at which point BTC will have completed a 5 wave impulse move and weekly RSI will be into its upside extended resistance zone. I'd look for a correction from there, perhaps as low as a retest of 100k. Monthly chart: TheBullBear.com, TradingView The longer term monthly chart projects much higher, to 300k, potentially by April. It's impossible to say at this point what path BTC will take to that mark, but before this Wave 3 of III is over, the monthly RSI will get well into its red upside extended range, and it's got a way to go yet, leaving lots of upside running room. We'll have to see what happens when that green shorter term trendline gets hit. If price blasts through it, it may head right for 300k, or it may hug the upper rail and take a longer, slower path to that target. In either case, the Wave 3 rally looks to target that space before any substantive corrective period. Sentiment on the Bitcoin Fear/Greed Index got a bit frothy, so the consolidation also served the purpose of resetting from overly greedy: TheBullBear.com, Crypto Fear/Greed Index Everything is changing. Fast. There will be new forms of financial intermediation based on new technologies, and Bitcoin is one of them. Eventually there will be new forms of money and Bitcoin is currently regarded as the frontrunner for this role, positioning it to become an intermediation of exchange and a storage of value. The many trillions of Debt Monetarist value units that have been ginned up by the transitional Debt Monetarist economic and political regime over the last 25 years will have to find some kind of productive home. Skimming, scamming and grifting on an global scale has had its day; now its time for the return of productivity, innovation and advancement. Bitcoin is one of the places those trillions of future value units will park itself. Projections to $1,000,000 are not pie in the sky. With the Bitcoin-positive David Sacks being named to take point of tech and crypto policy, and many other pro-crypto elements in the new administration, a fundamental repricing of money in terms of new technological models of exchange is beginning now. In my opinion, it won't take more than 10 years before the way exchange works and our current concept of money is as antiquated as seashells and coins with the King's face stamped on them. Risks to this analysis: If the new administration changes its tune with regards to Bitcoin and crypto, or if quantum computing enables the breaking of Bitcoin's cryptography, or if a newer, better form of cryptocurrency is devised, then Bitcoin is at risk.
