Above is a chart of bitcoin from mid 2010 to present.
A parabolic curve was drawn with a formula that tightly follows the bottoms of the crashes and lowest prices in bitcoin's history.
That curve was then cloned above multiple times to create a parabolic set of scales to show how far above a fully crashed price you are at (at least according to current data,...
Bitcoin is showing an Inverse Head and Shoulders bottom with a confirmed retest on the 5 and 15m candle charts. We are also on the retest of a much larger inverse head and shoulders pattern on the 1 day candles. This is about as bullish as it gets. Support ranges are 7000 for this pattern, and 6850 for the daily Inverse head and shoulders.
If this bottom holds,...
Bitcoin is currently headed for a retest of the 6850 inverse head and shoulders pattern. This level is also the .618 fib level. At that level the market will determine whether we are in the beginning of a bull market or a continuation of the larger bear market or consolidation pattern.
This is a key area for trading, and for the next 3ish months of bitcoin price action.