Using Gann Fans To Time The Parabolic Move To The TopUsing Gann fans, admittedly in a way that they are not supposed to be used, it seems to give a reliable indication of when Bitcoin will begin the parabolic move to the top.
If you draw a Gann fan from the top to bottom of each cycle, you can see that whenever Bitcoin leaves the 8/1 line of the fan, it appears to start a parabolic move to new ATHs with very little downside. These 8/1 lines were a downward sloping 18 degree angle in both 2016 and 2020, and in 2023 it is a 13 degree angle.
The yellow line marks the halving. In 2016 Bitcoin found itself right at the 8/1 line on the halving. After a bit of a pullback, it began a parabolic move to the top.
2020 is a little less clear due to the black swan of covid, but it went above the 8/1, then came back down for a retest, then went on a parabolic move to ATH.
At this point in 2023, we are right in the middle of the 8/1 line (at 47k) and the 4/1 (at 32k). I think a push to 47k is probably more likely, but either way, I expect it to be near the 8/1 line at the halving, which would be around 44k.
Once it moves away from this line, I think a parabolic move with little to no downside will have began on the way to a new ATH.
This Gann fan, which you can get by drawing from the top of 2014 to the top of 2018, created several significant trendlines, which we have just come above, but remains to be seen if they will hold.
Similarly, you can get this Gann fan by drawing one between the 2018 and 2020 top, which also resulted in several significant trend lines.
The top of that channel is at about 51k, and the bottom is 37k. On a potential pullback, this would be a first area that I would look at of significant possible support.
