BlockTechEv

Bitcoin - Aftermath of a Parabolic Cycle

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
It's been a while since I zoomed out and looked at BTC LONG term. With all of the volatility going around I've been caught up in identifying short term signals.
To get a better understanding of what is happening on the chart, move your curser over the anchors. Start from the left and work your way over to the right.

What I have identified over LONG TERM, is that a parabolic cycle has the tendency to return to/just beneath their starting point. It happens within 10-12 months after the top of the parabolic has formed. How do I know this? It has been confirmed 3 times in the past 3 years. The RSI is added for confirmation on the top of the parabolic cycle.

Am I saying we are about to plummet down now? NO
Am I saying that you cannot make money over a 1-year bearish dominant trend? NO

What I am saying is that according to RSI , it is likely that we have reached the top of this parabolic cycle and according to history over a 3 year timespan, there is a HIGH PROBABILITY that over the next few months we will return to the bottom/slightly beneath where the current parabolic cycle started.

Note that short term scalp profiting is possible even in a bearish trend .
Note that we MIGHT go higher in the short term, this chart is focused on LONG TERM.


Best Regards and thank you for watching,
BlockTechEv

Comments

Have to wait for the parabolic cycle to finish - BTC could head to $200k before what you call for happens.
+1 Reply
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