What's up guys ! I just want to share with you this new Bitcoin idea I had couple days ago. Basically, You can see on the chart that BTC kept pace with the same growth (the turquoise line) from the start of it's bull market in mid of 2015 to the beginning of 2017 (which I call Bitcoin ''normal growth'' or ''growth A''). The turquoise triangles on the turquoise line shows the Bitcoin fluctuations and anticipated fluctuations if Bitcoin had keep pace with it's ''normal'' growth until now. You can see on the chart that if BTC had follow this ''normal'' growth, the price would be approximately between 3.5k and 6.5k. So according to this theory, Bitcoin could be a bit overvalued atm... However, not for so long ! Because the ''normal growth'' (growth A) is going up and you can see that in mid 2019, Bitcoin would be worth around 11k.
Also ! If you take a look at growth B (purple line), you'll see that it acted as good resistance lately, and the turquoise trend line (growth A) could (and will probably) act as strong strong support if Bitcoin go touch it.
As always guys don't take this for granted... This is just an idea.
Stay tuned for more updates,
Fred
#BTCisKing
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Bitcoin just touched growth A... Let's see if this strong support can hold the price.