The analysis begins with a discussion of hypothetical tops at 126k, questioning the next cycle top. A channel formation analysis is presented, with the current angle of ascent being 5.15 degrees. There's a logarithmic channel discussed, with an angle of elevation halving every cycle which puts the potential target at $175,000. Break of that uptrend would invalidate the analysis. The 50/200 day moving average is going for a death cross and a similar situation in April acted as the market bottom.