These trend lines are nothing new just wanted to point out some things I have been looking at.
On the weekly chart I took a measured move from the highest price point on the peak of the first RSI top to the highest price point of the peak of the second RSI top of the 2014 bull run = 575%
I did the same for the 2018 bull run and it was 576%. More confluence between the two is that the first top of the RSI peak turned out to be the following bear market support on both cycles, a drop of about 85%.
So I took a average of the time period between the two peaks 31 weeks and extrapolated from the current first peak up to the red resistance line. It was not 576% but still much higher then I am expecting this bull run to go, 470% and a price point of about 230k! its a extremely Exuberant prediction I know, but what do you think?
I have mainly been looking at the bitcoin log growth curves which give a rough top of 120k for the same time period. I feel this is much more realistic as a top and will be what I am keeping a eye on the most. Something else is telling me that this ridiculous 230k top is not out of the question though...
On the weekly chart I took a measured move from the highest price point on the peak of the first RSI top to the highest price point of the peak of the second RSI top of the 2014 bull run = 575%
I did the same for the 2018 bull run and it was 576%. More confluence between the two is that the first top of the RSI peak turned out to be the following bear market support on both cycles, a drop of about 85%.
So I took a average of the time period between the two peaks 31 weeks and extrapolated from the current first peak up to the red resistance line. It was not 576% but still much higher then I am expecting this bull run to go, 470% and a price point of about 230k! its a extremely Exuberant prediction I know, but what do you think?
I have mainly been looking at the bitcoin log growth curves which give a rough top of 120k for the same time period. I feel this is much more realistic as a top and will be what I am keeping a eye on the most. Something else is telling me that this ridiculous 230k top is not out of the question though...