BuyOnPurple
Long

Logarithmic bubble repetition

BITSTAMP:BTCUSD   Bitcoin / Dollar
130 4 0
Same idea that has been circulated recently, now in cleaner colors with rounded numbers.
devlspawn
2 years ago
I think this makes perfect sense for any market after an exponential run up -- even if we don't have another one. Without another run up I would expect prices to stay between 600 and 800.
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sonus
2 years ago
Can you talk about why the white and red horizontal lines are where they are?
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BuyOnPurple PRO sonus
2 years ago
Sonus -- the white and red lines here don't come with much explanation, this chart isn't meant to be read for "targets" so much as just a general structure of the bubbles. I used very round numbers on purpose. What I highlight here are 50% and 100% "bounce" (red and white lines) levels from finding a bottom at 400. I then take the time period between the april bubble final bottom and the time we hit/broke the 100% market, and I overlay an identical length time period on the current situation, giving me a rough idea of how long we can float around in this range between the red and white lines before I'm willing to call the bubble pattern "broken". I've since updated my chart with 200-day moving average and exponential moving averages, and identified a trend there they flatten out. This actually allowed me to identify a different bottom line of 550 on stamp. You'll just have to take my word that I drew it before it actually happened ;).

snapshot


Remember, this is only if the bubble pattern continues, and that's a BIG if while we're sitting near this support level.
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sonus BuyOnPurple
2 years ago
Thanks for taking the time to explain.

Why do you call the red and white lines 50% and 100%? I see that the red corresponds roughly with the post bubble peak support, and the white with the first bounce's resistance. How does this relate to 50% and 100%?
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