Remarkable analytics on BTC from Ali Martinez (trader and crypto analyst, 89.3k followers).

Comparing the year 2024 with 2020 and 2017, he concludes that if the patterns repeat, the first significant correction for #BTC (from $15 to $30) in this bull run will occur at the level of $135,000 or even at the level of $159,000:

"The current bull cycle (black) is very similar to the cycles of 2020 (gray) and 2017 (yellow). If this model is correct, then the first major price correction (15% to 30%) will not happen until #Bitcoin reaches $135,000 or even $159,000."

BUT what is remarkable is not this, but the levels that Martinez points out. This is the area of $159,000 as the first global target of the bull run and the area of $240,000 as the maximum target.

Let's remind the reference levels for the bull run of #BTC that we have defined. From the post on November 11, where we analyzed them using Fibonacci at the rate of $79,930:

"Level 1.618 is the rate of $109,807. We have already mentioned that for us this is the minimum target in the current cycle. The maximum target is in the area of $200,000-$300,000, and it is currently difficult to say anything more specific. The target 2.618 according to Fibonacci is $168,108, 3.618 is $226,409, 4.618 is $262,439. The last two are for BTC maximalists."

The range from the current ATH to a maximum of $85,000 does not fit very well into the scheme. But a more "modest" sideways movement fits quite well.