roaken

BTC - $110k by end of 2018?

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This graph represents a parabolic growth pattern of BTC if it continues at it's growth rate over the past 6 years. The concept here is that every time it finds new highs it falls back to level on the fork channel that's one step above the previous market cycle, thus keeping BTC parabolic. This chart shows BTC functioning under an Elliot Impulse wave pattern. If you consider we are in wave 2 of 3, 2018 still has a lot more steam left in it and we could see a new high of 110k by Jan 2019.

This is a simple pattern continuation. I realize the number is high, but that's how the chart lines up. If I'm missing something or exagurating my fork angle please comment below as I'm curious of other opinions in this subject.
Comment: Scenario B:
Comment: I've tried lining up the fork like this, but it just doesn't make sense to me that the linear line would not be startling a major support line during this period. When the fork is set like this we fine the lines are not parallel as well.
Comment: also in the above image you'll notice the major linear growth line never finds a major support line and just floats

Comments

i like in 2022 where it reached 2.6M only to crash back to 121K; that should be interesting.
+1 Reply
or 200,000 USD? :D
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roaken just5
@just5, Yes you're applying the same multiple, I considered this. But I think your channel is too steep. If you use the fork tool to align the channels, then apply this growth ratio it would be more likely. You need to extend the time, BTC doesn't just spike. Finding confluence between graphing tools helps as well.
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Lol insane but I like it :D
Reply
Genius. Pure genius.
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