frankoverwood

My bitcoin parabullic bulltard chart

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Well, as you can see, btc             had two parabolic movements in the past, in case we see a fractal , we should start bouncing in a new and faster parabolic movement (i see it unlikely now) IN CASE btc             goes parabolic, top would be around 66-88k.
(parabolic moves from top to top)
past:
1st parabolic movement from 16 usd to 260usd: 1500%
82% retracement.
2nd parabolic movement from 260usd to 1170: 335%
88% retracement followed by a long consolidation period.
pic 1


Present:
(top to top)
1st parabolic movement from 1170 to 19850usd: 1500% (sounds familiar?)
this is the part where i doubt, we only retraced 70% from previous ath             .
So in case btc             decides to retrace 80% like previous retracements i placed that blue line.
My bet:
1ST SCENARIO:
2nd parabolic movement (in case we keep going and forget 80% retracement) from 19850 to 88800usd: 334% (sound familiar?)
86% retracement - bottom around previous ath             (19k and weekly support, 12k. like previous run, bottom were found around previous ath             and weekly resistance (check pic 1)
pic 2


2ND SCENARIO.
Btc             doesnt bounce and go for 80% retracement. We consolidate for a long period until we touch pink trendline .
(check pic 1 to see where it starts)
pic 3

pic 4


As you can see in this scenario i expect bitcoin             to revisit that pink trendline that in my opinion is very very important.
both cases are very bullish in the long term.

Awesome chart. I am just studying the same right now. Great minds...
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