***This is not financial advice, it is a personal investigation log intended for furthering my knowledge on Parabolic Curve Theory ( PCT )***
This is a daily chart for Loopring LRC vs BTC. Pattern analysis is clearly a Rounded Bottom (RB) at a +/-70% advance in time with a total estimated span of approximately 85 days. Bottom of the base: 847 satoshi Projected top: 1,869 satoshi
Projection for bases 1 through 4 set at .236, .382, .500, .618 Fibonacci levels. These have been determined by measuring an inverse retracement from base to top to force the Fib tool to place the levels from 0 to 1 to cover the complete parabola.
At the moment of publishing the estimated profit % when reaching the top is of 92%
I will update close to when the different stages are reached to keep track of the price action behavior.
Any comments and further insight are welcome.
Transaction en cours
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The idea holds as price action is currently rising trying to cross the dense Kumo Cloud. Will probably start trading sideways and bounce off the curve to confirm validity of the base 1 (.b1) idea. Accumulation zone coming.