Traditional VCP and Rhombus analysis suggests the non-linear target for the Splat Zone should be between 61.8 percent and 100 percent of the rhombus' height. Based on this knowledge, I calculate the target Splat Zone to be between $880 and $700. What I find encouraging is that the upper end of the target Splat Zone coincides with the Content of Stomach analysis which suggested a target SZ of $900.

Of course, this pattern is quite new and further analysis may be needed. However, given the several minutes I took to draw the pattern, I feel quite comfortable making a large levered bet that my target Splat Zone is accurate … unless, of course, it's not.

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Brian Kelly is founder and managing member of Brian Kelly Capital LLC, a global macro investment firm catering to high net worth individuals, family offices and institutions. He is also the creator of the BKCM Indexes, benchmarks for multi-asset money managers. He's also the author of the upcoming book, "The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World." Kelly, a CNBC contributor, often appears on "Fast Money." Follow him on Twitter @BKBrianKelly.