A market signal that has never failed points to Bitcoin trading much higher by December, which is good news for holders.

• The signal has been green 100% of the time it has fired, measured 6, 9 and 12 weeks out.
• Twelve weeks out — roughly early-to-mid December — the average gain is over 44%, with a median closer to 30%.
• The gap between the average and the median suggests a few past signals delivered outsized moves that pull the average up.
• Applying that 44% gain to last week's close puts Bitcoin near $117,000, which would still be short of a new all-time high.
• A move above $100,000 is seen as the likely outcome.

Outlook: Bitcoin is expected to close higher over the next three months, with December the key checkpoint.

## Bitcoin Levels

• **Bias:** Bullish.
• **Targets:** $100,000 as the likely floor for the move; $117,000 as the upside target based on a 44% gain from last week's close.