Bitcoin should get pretty green!

The GUNNER24 Forecasting Method offers that the final highs of this bitcoin rally cycle are still pending. My new forecast shows that it is allowed to fly to a 46000$ within days.

Here is the weekly chart of the Bitcoin continuous futures contract (BTC #). Within we are allowed to anchor a textbook 13 Fib number Candle GUNNER24 Up Setup at the low of 2020. This coronavirus-panic extreme sealed the next higher bull market lows of the bitcoin futures:

This setup is the only valid one we should work with on weekly base and even this is only mildly confirmed with the past movements and price activity. However, such a relatively unconfirmed situation is not uncommon in the highly emotional markets and trends. As always, I have highlighted the most important confirmations that the setup was respected in the past and that the selected scaling should fit properly.

Well, I think bitcoin has to rally further into higher alltime-highs because this past week candle again closed above the lower line of 5th double arc what is a confirmed main resistance of the bitcoin rally, thus firing another weekly buy signal after the recent two week pullback was a textbook backtest of the former finally upward broken 4th double arc area.

After printing the 42730$ January 2021 alltime-high (ATH) slightly above the end of setup regarding price a pullback and successful backtest of the 4th double is a quite common bull market behavior.

With price now strongly back at 5th double arc magnet and reconquering the “Nearest Support Angle” on weekly closing base we have received a double signal that the two week January 2021 (Jan21) pullback should have printed a next higher rally low and another combined daily and weekly push higher has been started at seen Jan21 pullback low.

As the main consequence of such a next started upcycle the rally should continue although - of course - the price actually still quotes at 5th double arc main resistance and shy below the upper end of setup regarding price what represents well-confirmed current ATH main resistance. Please remember that the end of setup - the two dark-red dashed resistance horizontals represent this end -, always offers a MAJOR uptarget resistance where the entire trend is allowed to top finally and turn for longer...

The weekly signal situation is thus back in full sync with the monthly signal state: ==> this next textbook 8 Fib number BTC # Up Setup on monthly base signals that the rally should hit and work off the lower line of the 4th double arc uptarget next and usually very soon!

The setup starts measuring to the upside at # 1 // 2018 Alltime-low. The lower line of 4th runs at about 46000$ for this month candle and the next due candles:

The very last indirect confirmation that this setup could deliver a nice and accurate forecast is send at final low of the December 2020 candle what was a 100% accurate backtest of the important 2*1 Support Angle from above.

By this low we have confirmation that the 2*1 should continue to radiate lifetime-base support energy in the coming future, coming years and at always sometimes due next test.

Otherwise, the setup, and thus also we, have one main problem, namely that since the first square line buy signal, that was triggered by the Nov20 opening auction, none of the double arcs or individual double arc lines the price has passed since have been confirmed in any way.

As already mentioned above such exaggerated bull behaviour where the lines of the GUNNER24 Double Ars are not or hardly respected is often seen on the emotional FOMO charts. Especially in extremely high-energy cycles. And bitcoin, well, since Biden elect has gone into an exceptionally strong rally cycle, which probably needs to last a little bit longer, because:

A) With the February candle the price is again back, and above all, now holds again well above the monthly 3rd double arc. B) Has cemented a new natural Gann Angle support on monthly closing base with the January 2021 close, which in 2019 was an important rising angle resistance at the beginning of the bull market = the price immediately finds new important natural support at the beginning of the new year. This is a bullish combined price/time signal, what points to trend continuation. This 2021 Support Angle together with the 3rd double arc environment is now nearest important = strongest monthly support magnet below.

C) Bitcoin just fired a likely next important higher rally low and another weekly buy signal and thus D) by this the monthly lower line of 4th double arc was activated as the next nearest important GUNNER24 Upward target on the monthly chart.

Accordingly, the forecasting method recommends that BTC # has to rally further into the lower line of 4th uptarget with a probability of about 80% or so. And well, if a market shows a confirmed exaggerated rally cycle, the activated GUNNER24 Upside targets are usually always processed quickly.

==> Bitcoin has 80% odds to hit a 46000$ later in February 2021 towards March 2021.

Of course it might be the outcome that current rally cycle has to trade much higher as “only” a 46000$ and forecasted monthly 4th double arc hit, but somehow I have the feeling the price might be capped there for longer. Hmm...., in any case the in the year 2020 activated round 50000$ W.D. Gann upmagnet number should be hit and tested in further course of 2021!

Next let`s focus on the daily chart and to its current rally status and trend behavior. This developed daily 2 Candle GUNNER24 Up offers that the 46000$ might be hit around resp. until February 24: