Predicting Bitcoin’s (BTC) Future Price
Utilizing Gann’s Square of 9 or Wheel of 24 can be useful in identifying key price and time dates in the future.
Bitcoin (BTC) rapidly drops below $7000, but how far will it go?
Bitcoin has experienced a sizeable drop during Monday’s New York trading session, dropping -4.18% from $7099.71 to $6803.24. The question everyone will be asking is: how low can or will it go? I wrote an article last night predicting the time frame of when Bitcoin may experience a reversal in the overall trend (December 26th, 2019). These predictions were based on a series of astronomical cycles and Gann cycles that all converge within a short period of time. We are currently trading inside the beginnings of some of those cycles. While December 26th appears to be a major convergence point in Gann Analysis, there we should identify some key price levels as well. Gann’s Square of 9 tool helps identify essential price levels that should be monitored in the future. Starting with the date of the 2019 swing high of June 26th as out 0-degree line on the date wheel on the Square of 9, we’ll also begin with the June 26th, 2019 high as the start of the Square of 9: $13,826. Below I will list the corresponding key date and price levels. Ascending and descending are prices above or below Bitcoin’s current price (6888).
90-degree time and price square: September 28th, 2019
Prices on Sept 28th, 2019: 8088 (close was 8065)
180-degree time: December 27th, 2019
Prices on December 27th, descending: 6728, 6387, 6038, 5681, 5316, 4943, 4562, 4173, 3776
Price on December 27th, ascending: 7386, 7703, 8012, 8313, 8606, 8891, 9168, 9437, 9698, 9951
270-degree time: March 26th, 2020
Prices on March 26th, 2020, descending: 6644, 6301, 5950, 5591, 5224, 4849, 4466, 4075
Prices on March 26th, 2020, ascending: 7306 7625, 7936, 8239, 8534, 8821, 9100, 9371, 9634
The price values above were used shifting the start of the Square of 9 to static price value and then populating the remaining rings around the Square of 9 with the descending values. Another way to determine the value of Bitcoin’s future price at a future date is to utilize the Patrick Mikula method of identifying the square root of a number and applying that to the Square of 9. To do this, I keep the 0-degree level on June 26th, 2019 and then identify the price levels on those dates using the square root method. The square root of the June 26th high (13,826) is 117.584; we round so we get 118. That’s where I start my Square of 9 tool.
Moving around the Square, I get to identify some new values with the price levels much farther apart from each other compared to the linear Square of 9 we did at the beginning of the article. 180-degree from 118 on the Square of 9 is direct to the right (or east), which gives me the numbers 113, 100, 79, 50, and 13. I square those values to get the price level that Bitcoin could be trading on December 27th. Those numbers are, sequentially: 169 (13²), 2500 (50²), 6241(79²), 10000(100²) and, 12769(113²).
What does this mean?
The square of 9 in a forecasting tool. If we are looking for square of price and time (an occurrence where Bitcoin would be trading around a price level on the Square of 9 that has the same angle as the date), then on December 27th we should expect to see Bitcoin trading at 6241 for the nearest low, 2500 for an extreme low and 10000 for a high. More than likely we will see Bitcoin trading near the 6241 value area, but not below the 2500 value area.