Bitcoin has re-entered it's exponential growth channel. On charts with a logarithmic y-axis, exponential curves are transformed into straight lines, hence I show a linear channel.
I interpret this channel as Bitcoin's stable / organic growth path. Everything above the channel is a speculative bubble, not caused by fundamentals, but by speculation alone. Everything underneath the channel is crypto doom - of course we can go below, but that period I interpret as recession. Hence stable growth separates Boom & Bust.
Here is the full channel dating back to 2011:
Compare out current position to 2015 when we re-entered the channel. I see a "sideways" approach to the channel bottom taking us into Q4 / 2019. The green shaded zone represents the likely sideways channel. This is a trading zone of 4900 to 7700. It is not necessary that we test either extreme in my opinion. We lack volatility that much is clear.
The middle of the channel is 6200 this seems like a good average level for the period. I expect oscillation about this point.
In addition, check 2015 again. It is also not necessary that we touch the channel bottom, we can do that later on as we climb the channel.
I interpret this channel as Bitcoin's stable / organic growth path. Everything above the channel is a speculative bubble, not caused by fundamentals, but by speculation alone. Everything underneath the channel is crypto doom - of course we can go below, but that period I interpret as recession. Hence stable growth separates Boom & Bust.
Here is the full channel dating back to 2011:
Compare out current position to 2015 when we re-entered the channel. I see a "sideways" approach to the channel bottom taking us into Q4 / 2019. The green shaded zone represents the likely sideways channel. This is a trading zone of 4900 to 7700. It is not necessary that we test either extreme in my opinion. We lack volatility that much is clear.
The middle of the channel is 6200 this seems like a good average level for the period. I expect oscillation about this point.
In addition, check 2015 again. It is also not necessary that we touch the channel bottom, we can do that later on as we climb the channel.
Commentaire:
My theory of Bitcoin corrections medium.com/@sunnyday...rections-5395446c5ac
Commentaire:
Commentaire:
I remember when I did this chart, bears were screaming 3k and 4k. well although not impossible I think that would not lead to another all time high again.
fractally it appears we have completed the correction, now it is a battle between bear and bull forces for final control of the market and overall future of crypto. do we survive or not (bull or bear)
fractally it appears we have completed the correction, now it is a battle between bear and bull forces for final control of the market and overall future of crypto. do we survive or not (bull or bear)
Commentaire:
here is a close-up
Commentaire:
Bouncing on the channel bottom, will it be enough?
Commentaire:
looking like resistance now
medium.com/@sunnyday...onality-8c5ddb3880da