PeterLBrandt

Correction in Bitcoin holds dominant parabolic advance curve

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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.