Based on patterns TheChasm shared, I did longer term projections for rallies following the current arc cycle.
Kinda messy, but the fibonacci lines for buy and sell markers match up through the first 3 arc cycles, so I used those as markers for the 4th and 5th arc cycles.
Seems to be a common market correction after each rally, then the arc begins.
Arcs could be played for longs to the top of the arcs and shorts to the bottom, but I'm only projecting the larger rallies.
Each rally also seems to be shorter than the previous, with the upcoming rally starting about July 1st 2014 and will last about 30 days till peaking at $4500 August 1st.
I found it a bit difficult to zoom in and out to get the markers right on, so make the chart yours and zoom in and make adjustments to get closer approximations to estimated values.
It may be a stretch, especially because the fibonacci lines get out of sync in 2015, but I did my best to approximate a value based on the original fork and I estimate a value of over $87000 by Mid-2015.
Also note the trends on the tangent lines on top of the arc's, generally pointing to where the next semi-sideways market continues through until just before the next rally.
Any suggestions greatly appreciated.
Kinda messy, but the fibonacci lines for buy and sell markers match up through the first 3 arc cycles, so I used those as markers for the 4th and 5th arc cycles.
Seems to be a common market correction after each rally, then the arc begins.
Arcs could be played for longs to the top of the arcs and shorts to the bottom, but I'm only projecting the larger rallies.
Each rally also seems to be shorter than the previous, with the upcoming rally starting about July 1st 2014 and will last about 30 days till peaking at $4500 August 1st.
I found it a bit difficult to zoom in and out to get the markers right on, so make the chart yours and zoom in and make adjustments to get closer approximations to estimated values.
It may be a stretch, especially because the fibonacci lines get out of sync in 2015, but I did my best to approximate a value based on the original fork and I estimate a value of over $87000 by Mid-2015.
Also note the trends on the tangent lines on top of the arc's, generally pointing to where the next semi-sideways market continues through until just before the next rally.
Any suggestions greatly appreciated.
