Bitcoin (BTCUSD) is marching towards our 88k short-term Target as we called on October 16 (see chart below):
As the U.S. elections have now been concluded with Trump's victory, we can now once more focus on the long-term horizon, particularly looking 1 year ahead.
Basically, the last time we looked at this pattern was back in August 14 2023 (see chart below), where we used the KSI indicator on the 3W time-frame, which has just made a Bullish Cross, to call the upcoming parabolic rally correctly:
This time we bring to you the last bullish signal of the upcoming multi-month Parabolic Rally, which is the 2W LMACD that is about to form a Bullish Cross. As you can see such a Cross was formed exactly on the November 08 2016 U.S. elections (Trump's 1st win), and a few months before the November 03 2020 elections. What followed was the most aggressive rally (green Rectangle area) of the Bull Phase (green parabolic channel) that started when the price broke above the 2W MA50 (blue trend-line).
As a result, we expect BTC to rise aggressively from here, entering the post-U.S. elections bullish phase that may very well exceed the $100k psychological barrier, as we've shown in previous analyses.
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