PeterLBrandt

Correction in Bitcoin holds dominant parabolic advance curve

Long
BITSTAMP:BTCUSD   Bitcoin
Bitcoin as a market has represented a series of parabolic advances on a log scale dating back to 2011. The recent correction has held above the current rendering of a parabolic advance. This rendering is a bit more complicated than previous parabolas due to the Covid crash in 2020. However, if the chart is viewed on a weekly closing price chart the parabolic curve beginning at the Dec 2018 low works well.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.