Log scale natural growth pattern for BTC. If large breakout above, pattern failed. This channel could see a retrace soon as Elliot's wave theory suggest.
But pre-August dip was caused by a major event (Segwit2X/BIP141) which scared a lot of investors away. Unless there is a major bad news incoming, I doubt the retracement will go that far. Not until October/November at least, when the '2X' part of NYA will be applied. Great analysis by the way. Thanks for sharing. :)
cerncris
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@nafnar, Agreed. No bad news at the moment. Although high BTC transaction price regardless of activation of segwit could cause some pullback. Proper and effective lightning network implementation could break upward channel along with 5k all time high hype.