It has come to my attention that those viewing this chart on low resolution monitors or mobile devices are not able to see this study across all 3 bubble formations. If this is the case please press the minus button (-) at the bottom of this chart, just above the time line, to zoom out to see all the detail. If this doesn't work, you can also try dragging the chart around with your mouse.
My primary objective with this chart is to display the coincidence on the 2 previous bubbles each having their technical bottom formations at exactly the half way mark between the corresponding bubbles 'Peak' & consequent 'Base Camp' just before starting the parabolic climb that signifies the beginning of the following bubble. When I apply this same formula to study the current bubble formation we are now trading in, I calculate it will be time to leave base camp to begin our long parabolic climb to the next peak on August 20th 2014.
I'm not saying this is exactly how it's gonna play out or that there is not a chance for bubble this year... I'm just starting to get tired of these two trendlines on Bitstamp log chart (no offense, I appreciate your input).
Moon, of course but couple of spins around orbit first (and then who knows, Saturn has many moons too:D)
So the long-term trend lines of the past may not have been support at all, but pure myths, whereas we have yet to reach the real long-term trend line.
I have to agree that the "long-term" part of this trend line people are talking about is fishy, it's primarily based on a flash crash bottom, nothing long-term about it. There are only three real significant long-term trend lines, two of which are already broken. Following the historic pattern, it's now going for the last one:
As you can see from the channel, if we go any lower now, it's safe to assume it will drop a good deal more and, unless reversal finally happens, to hit the red line which would be the $360 double-bottom area.