Yellow bars pattern is the 2012 run, blue is the 2015 and red is the predicted 2020 (beginning at) run after factoring in the depreciation in bullish percentage gained after each halving. Red patterning is also averaged between the 2012 and 2015 patterns. Extra Fibonacci retracement levels were used to determine the scaling. If the rule of threes apply to bitcoin this might just work out
I am of the belief that the 2020, or 2024 halving events will create a run much bigger than the last two.
himi
⋅
Most likely none of those will repeat.
thomas58700
⋅
@himi, Yes, not the patterns, the average trend of the red lines. Just having some fun charting
Phi-Deltalytics
⋅
Nice Heads-up!
The daily BTC chart does have slight bullish technical signs. However, I think more volume is needed for the bullish scenario to play out. Before then, I’ll remain on the short term neutral to bearish side.
What do you think of our setup below?
thomas58700
⋅
@Phi-Deltalytics, Some good channel trading, but for this chart I was focused long term. Thinking about the trends of gold and what that shows us about the global economic issues we're facing. People piling into BTC and gold after economic turmoil would be interesting