BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BITCOIN Bullish Ascending Scallop
Trade active: 300K?!
Trade active: Important topic today — Bitcoin and Correction: when? what levels? it will be crash or just correction?
Let's look at classic Support & Resistance levels, on Weekly chart we can see latest correction was on 8000 level. This is main Support level for now from big (Weekly) timeframe. Also good round numbers such as 15k-12k-10k levels could be possible used as support for further Hype.
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I think you drew it wrong, as you're not taking into account the correction that occurs every 2 months across time. So you need to recreate the fractal and divide % price increase by time for linear regression.every 3 years or so, bitcoin has an 87% pullback and whenever the monthly RSI gets to 97. So I think bitcoin will have an 87% correction next year as regulators limit the volatiltiy, add to shorting firepower, and increase liquidity to rid of any cross - currency arbitrage.
+1 Reply
i think the line would likely go more straight up instead of the longer curve you drew out. see the previous bubbles where the line goes straight up at the end. that would bring us more to 100k as opposed to 300. thanks for posting your idea
PSHHHHH. Looks like it will be $724,567.19 in 2 months and 8 days. Its all in the chart!!! Off to the moon!
VovaMihalovich VovaMihalovich
Your hypothesis is based on only two pointers ...
+1 Reply
Wich price exactly ?
a.shevelev002 Cryptocrystal91
@Cryptocrystal91, I like 300k!
IF futures hype continues to the next year lol...
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