AponSOKS1978

Rounded Bottom and Parabolic Curve Theory idea for $BRDBTC

Long
BINANCE:BRDBTC   Bread / Bitcoin
This is a personal research and idea for investment. DYOR and TIT...

This is Bread $BTC coin on a bi-weekly chart.

Bare in mind this is a huge Rounded Bottom pattern that probably will develop exponentially growing price action as it starts to close. I'm calling it very early as consistent with Parabolic Curve Theory ( PCT ) and am very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action miss some of the PCT base targets marked here thus making it necessary to revisit this idea.
As this is a very long term trade it is also uncertain how it will react to potential market trend reversal.
In terms of research it will be very interesting to keep track over the span of the months and understand the balance between patterns and market momentum.

TIME/PRICE PROJECTION
Pattern start: Mid-Jan 2018
Estimated end: Q1 2024 (1000+ days from publishing)
Price tag at time of publishing: 610 satoshi
Expected price tag at end of pattern: 15,153 satoshi
Sub-base 1 (.b1.1): 2,061 satoshi
Base 1 price level: 3,687 satoshi
Base 2 price level: 5,883 satoshi
Base 3 price level: 7,645 satoshi
Base 4 price level: 9,407 satoshi
Take profit range: Recommended trailing take profit at 14,000 satoshi

TECH INDICATORS
Kumo cloud is apparently bottomed with both Senkou span A and B showing signs of consolidation. Further development in this direction will put Price action (PA) inside the Kumo cloud within half a year from now so confirming consolidation and/or initiation of reversal.
Tenkan and Kijun sen (blue and yellow averages) are squeezing together preparing for a flip and T/K crossover. The last and only time this happened was in march of 2019. This might signal the kickoff for trend reversal.
upsloped confirm bullish momentum. Chikou lagging span is below PA which is bearish . To strengthen the theory of an upcoming trend reversal Parabolic SAR is beneath PA at least 5 candles back, this is bullish .

NEWS CATALYSTS AND BTC VOLATILITY
No upcoming news catalysts.
Seemingly unaffected by BTC dips.

EXPECTATIONS
I expect very slow ranging with probable impulses increasing as we near the curve to close the RB. I'm very intrigued by how this long term pattern will react to the market's bullrun ending. That being within the time period for this patterns' completion, makes it extremely hard to foresee if the pattern will remain unscathed by trend reversal.

FINAL NOTE
Drawing may need to be adjusted as it's very complicated to project time on a pattern this size.

Comments

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