Hi thanks for this. Which dates and prices did you use to anchor the phase 2 line? Seems like we're headed to it
hjalmarilmer
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Lets hope it dropes to low 4k. Where we pick up cheap btc. But will it happen? With all the banks and billionaires now interested? Will it drop that deep? Yes, I think so. Don't forget they do most of there trading otc, not on exchanges.
coininvestor
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Would you entertain the idea that we are currently in a phase 3?
@coininvestor, By Jenks definition the phase 1 line must be over a period of years.
damiensuccess
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@coininvestor, I believe Jenks did exercise this idea just as PostCapital has, but we would have to bounce off the phase 2 trend line. If it doesn't hold up here, then it resets again.
I'd like to speak with him directly about the hyper wave theory because it seems Bitcoin could have this pattern on both micro scale and long term scale.
The above charts are really just micro scale on the grand scheme of Bitcoins life.
Blinderdot
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@coininvestor, Hyperwave trendlines must be drawn on linear scale
Poukitoun
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@Blinderdot, strange, in one of his youtube videos I saw him drawing the trendlines in non log chart!