A weekly parabolic curve looking at how bitcoin has performed since 2013 and what may lie ahead. Will be updated with bitcoins progress as it happens.
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We've touched the parabolic line again this week, we need to watch the next few days but I'm hopeful for another bull run from the recent support of 12.6k.
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BTC not looking good in the short-medium term, we are likely to break of the parabolic trend to the downside before forming a new trend.
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The parabolic trend has been broken and we have entered a bear channel until we find the trend reversed. It might be a bumpy ride from here as the supports above 8k look relatively weak.
Perhaps the curve should be a few pixels to the right :-)
Akoben
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The parabolic trend is broken and we have entered a bear channel until we find the tend reversed. It might be a bumpy ride from here as the supports above 8k look relatively weak.
libiakm
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@Akoben "the supports above 8k look relatively weak" - Why do you think so?
libiakm
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The curve was broken yesterday.
elshanti
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The 2012-2013 cycle had wave 1 (I) as initial wave which is the previous 2011 bubble with 30$ top folowed by wave 2 (II) (6 month bear market) then wave 3 (III) which happens to be the strongest wave of any bull run 10$ --> 233 $ then we had wave 4 (IV) which is usually a correction shallow wave that dipped arond 68 $ and followed with the final wave 5 (V) top at 1150$
The 2016-2017-2018 cycle has wave 1 (I) which is the 2013 bubble as initail wave followed with 1 year bear market wave2 (II) that dipped at 158$ and now we are in the the bull run and exactly at wave 3 (III) that could top anywhere from 20k to 70k which will be followed by wave 4 ( a correction wave) then wave 5 which will be the top of this cycle.
So I can suggest drawing an alternative parabolic curve similar to the 2013 cycle that has the coming wave 4 and 5 after we top the current wave 3.
elshanti
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I noticed that cycles timeframes doubles for example the 2011 bear market (wave 2) was around 6 months. for the new cycle the bear market was 1 year (wave 2) so we can expect the bull run to to be around 2 years which is double the the timeframe of previous cycle's bull run .
elshanti
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correction : the new bull run expected to be 4 years which happens to be double the previous cycles bull run.