Lcho07

$BTC Parabolic Trendline

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
What a rally this has been for #Bitcoin! I have been keeping an eye on the parabolic trendline and will continue to do so... That being said, I confirmed break of this parabolic trendline will project an ~80% decline from the swing high of this rally. I still believe $BTC has some juice left in the tank (~$15k) before we re-test this trendline for support...

IF we get up to $15k and IF a confirmed break of this parabolic structure I am projecting a double bottom at ~$3k... This is hypothetical and only my opinion.
Comment: Bitcoin did not make it up to $15k but we have broken the parabolic trendline... Based on my analysis, I'm projecting a double bottom formation at ~$3k...

IF we do get back down to $3k I believe we will go slightly below it $2500-$2800 in a capitulation wick and then quickly bounce back up.
Comment:

Comments

Lcho07 Bullandbeartrading
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out