BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
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Again I see BTC's history divided into growth channels. Here a pitchfan analysis. The lines of the fan correspond to Fibonacci ratios 0, 0.5, 1 (turquoise) and 1.5 (red).

  • The exact bottom of the current channel (here the right fib ratio 1 line) is unknown, but it was drawn such that it gave the other lines a best fit.
  • I feel we will get support on this line or bounce very close to it. This could be by moving sideways or dropping quickly then bouncing.
  • If we get support I see two options: either we start a 2018 bullrun and lose channel support in 2019 or we make a failed high and lose channel support this year. At present I don't know which is more likely.

A third option is that we don't find support at all and fall straight into the lower channel as we did in 2014.

Just a note: if we do lose the channel in 2018 then it doesn't necessarily mean net negative growth for 2019. Compare what happened after rejection in 2012 to what happened in 2014. However the acute angles (or gradient) of the pitchfan lines are becoming smaller making a path like 2012 less likely in my opinion.
Mar 22
Comment: Lol update already. I think it's very possible looking at the history that 2019 to 2020/21 could be net negative growth, if the previous alternating pattern holds.
thanks matey btc ain't the future but crypto is
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RealMcafee Doc-al-Citadel
@qdoc, Flippening
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Doc-al-Citadel RealMcafee
@RealMcafee, yeah, getting into neo tho finally!!!
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RealMcafee Doc-al-Citadel
@qdoc, Yeah it's a good one. This is definitely tra lala stuff but I'm bearish on crypto for the foreseeable, maybe until mid-April, just saying. I know you'v got your own viewpoint ;)
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Doc-al-Citadel RealMcafee
@RealMcafee, mid-april sounds fine to me mate; i could easilt see it being longer than that. Just not really expecting pan market desolation not trading advice tra la la. Having said that if it comes bring it and i'm loading up...
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Doc-al-Citadel RealMcafee
@RealMcafee, yeah they always give u part of the info so delete 'bitcoin' and insert 'crypto' or 'smart coins' or 'eth' ;-)
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RealMcafee Doc-al-Citadel
@qdoc, Yeah those pesky Egyptians building pyramids and making everyone look up. Sneaky buggers ;)
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Doc-al-Citadel RealMcafee
@RealMcafee, egyptians building pyramids ha ha ha
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