On log-scale I have identified correction events that seem to be related (profit-taking range). I also assume that people get more confident and wait longer until next profit is taken, which is however in contrast to the shortening of the time it takes to increas price From regression analysis of the last 3 identified events, I have estimated a 2-4 day window for the next target to be reached. However right now it seems that it will take longer to reach next target (around 1000-1200), as it probably represents a strong psychological barrier. Anyway, slow growth may be interpreted to have organic character. 1000-1200 are also in line with a 2 SD
from the monthly vwap
, which has been proven to be a consistent indicator for longterm btcusd
positions. What do you think?