ChartArt

Bitcoin Price Analysis - Bubbles of the Past and Future

BITSTAMP:BTCUSD   Bitcoin / Dollar
Since I got so amazed by the Gann fan and the Fibonacci time zone I tried to apply both to the historic Bitcoin chart and they align perfectly.

It may look like I drew the purple line of the Gann fan manually below the low of summer of 2013 and the blueish line by myself above the last two peaks, but no - actually the Gann fan is showing up there automatically based on the price data from the 2011 bubble.

You can see how the Bitcoin price growth has slowed down over the years as we moved from from the very explosive growing green channel in the beginning in 2010 quickly lower to the blue channel in 2011 and then over to the purple channel in 2012. Now the price growth is slowing down again for the fifth time as we are moving into the red channel. And watch the Fibonacci Time Zones, they seem to show up right between bubble cycles in the "stealth" phase before the "take-off". Something special is going to happen in early February 2015 which is going to fuel the next bubble (maybe the first ETF ), since both this chart using 2011 data and my other chart where I used a Fibonacci Time Zone based on 2012,2013 data show a Time Zone line around February 8th, 2015.

P.S. Also check out my last charts with Fibonacci Time Zones:
Bitcoin hitting a Fibonacci Time Zone

and
Will Bitcoin crash? Or is now the time to buy Bitcoin?

ChartArt
2 years ago
Here is how I drew this Gann fan. The starting point is the oldest available data from MtGox. And for the high and low I used the "mania" bubble peak high and the "blow off" phase low from the bubble in 2011.

snapshot
Reply
ChartArt
2 years ago
Alternative Fibonacci Time Zone, where I used instead of MtGox prices the 2.22 low in 2011 from Bitstamp only a few weeks earlier. Look at the last blue time zone now (•_•)

snapshot
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tootyfrooty
2 years ago
Gann fans are mindblowing.
+1 Reply
ItisCalvin
2 years ago
Essentially this chart if you took away all the other stuff and added the Mt. Gox Historic data. Interesting how both fans have comes very close to the same conclusion. Fascinating.
Back To The Base of the Trend?
Reply
Spekulatius
2 years ago
Nice find. I doubt BTC price will fall to the lower red channel though. Your FIb times seem to indicate starting points for rallies as well as bottoms (almost) for in-between-periods between bubbles. Time point 8 would put the price at 11 USD, which is incredibly low. It seems more likely that we will be in the middle of the channel by then, as happened at point 2, giving us a price of 150-200 USD. Your fan also puts the top of the next rally in this channel in the first half of time period 8-13, which means prices from 5k-40k USD. Did I infer that right?
Cheers
+2 Reply
Not too unrealistic. Could see $65
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rivet.popper
2 years ago
Can we get an update on this in 2015? Uptrend seems to have resumed.
Reply
findftp PRO
9 months ago
How did you combine the MtGox and Bitstamp data?
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ChartArt findftp
9 months ago
I used one of these two indicators:

BTC Historic


BTC Prehistoric v1
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findftp PRO ChartArt
9 months ago
Thanks a lot!
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