kyer
Long

Bitcoin Parabolic Waves - ATH Incoming!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Monthly Levels = White
Weekly Levels = Purple

It is known that Bitcoin moves in parabolic waves. First it accumulates for a little over a month, then it has a parabolic move up of around 60% before another accumulation.

The 1st move in May was 54%, followed by a month accumulation before the next move in June that was a 69% gain.

Now, were in the middle of the 3rd wave accumulation, longer than the other ones, but will be more explosive than the others. We'll see a test of the previous ATH or even a new one.

The long term trend line I drew stends from the bottom of the market in April and has held it since. This is a good indicator that Bitcoin will stay around the 11-12k range for the rest of August, then go parabolic in September.

All the stars are aligning for the next move up, all the talk at the Federal Reserve , media talking about Bitcoin becoming a digital store of value and a hedge on the same level as Gold/Silver, as well as the very scarcity of the coin.

More and more sheeple are waking up to the fact that the world's economy is going down and are looking for a hedge/store of value against that. Bitcoin is the answer they are looking for.

Long live Bitcoin , short the banks.
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