Lots of fib extension lines converging at this point. Is this a strong indicator of the final top for this bubble?
If so, then I expect a rapid correction with a bounce and then a return to the long term trend.
Incidentally, the box in the chart is from my original charting showing my expected bubble development (the upside and downside was cleaned off a little while ago).
Hi ! You think it will go back down to 1250??? Correct me please if i read it wrong. Thanks for your chart. Interesting...
andyhitchman
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@Septab, nothing is certain. But this is a bubble that I believe should already have popped; but the 5% probability of a continuation hit and we went up. Look at the last BTC bubble late 2013. That's what I'm setting up for. As to whether it goes to $1250, that the 0.618 retracement. Or may be it goes to as low as $800, that's around the trend line for 3 year growth and the 0.786 retracement.