TradingShot

Can this pattern delay Bitcoin's growth?

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
This is a quick reflection on Bitcoin's Fibonacci Channel's within its long term parabolic growth curve.

In the two previous cycles, the price touched the -0.382 Fibonacci retracement level before it rebounded. This marked the end of that market's bear cycle and that bottom gave way to the new bull cycle.

This time it hasn't done that (price touching the -0.382 Fib) so far. Maybe this is an indication that "this time it's different". Maybe it is something to be cautious with and reserve some capital for buying lower.

Maybe we will eventually touch this line much later on by trading sideways. In this scenario, Bitcoin's growth will delayed considerably to what most of us (including me) think but of course will not stop. After all the parabolic curve pattern will eventually turn asymptotic at some point in time. This means that the market cycles will last longer (longer bear markets and bull markets), which would in turn imply that BTC has reached the point of maturity and widespread adoption and dominance. The trend after that would be unknown (certainly not parabolic) but we are still many years before that happens.

Note how the angle of each Fibonacci Channel decreases in time (54, 27, 16, ...) making the slope decelerating, confirming the notion of the asymptotic behavior.

What is your opinion on that matter that few seem to talk about? Do you think that the asymptotic dynamics have already started affecting BTC and may delay its growth? As always all opinions are welcome on the comments section!
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TradingShot BarclayJames
@BarclayJames, Thanks for sharing.
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TradingShot Cryptalion
@Cryptalion, Thanks for sharing. The Triangles can technically break both ways. There is no reason to assume that this one will break upwards.
+1 Reply
Cryptalion TradingShot
@TradingShot, agree let's see which way we go!
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Cryptalion TradingShot
@TradingShot, seems like already decided
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Comment removed.
This would be hilarious MAX PAIN scenario:

+1 Reply
Poukitoun YoungLivermore
@YoungLivermore, I got all my entries at $3160 so no max pain for me :D but alts ai ai ai
+1 Reply
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