Hi everyone,
Seeing the powerful parabolic rise of this year, I decided to look at 2017 and try to extrapolate an idea. It's a wild idea, I get it, but it's nice to see for some perspective of how powerful this year's parabolic rise "could" be and how big of a crash we could expect if it does actually play out.
AB= April to Sept 2017
CD= Sept to Feb 2017
AB = CD in 2017 puts the target at $6.7k, which is the 78.6% fib retracement from ATH (blue line). That was Bitcoin's realistic target for EOY. However, Bitcoin being very parabolic in Q4 2017, it decides to go for a moon shot another 184% to the upside, prior to quickly going back down to consolidate upon its intended target of $6.7-6.8k (the 78.6% fib!)
Could the same AB = CD repeat for this year, given the similar powerful 2017ish parabolic rise we're seeing?
AB = Jan - June 2019
CD = June - Dec 2019
If so, we'll see Bitcoin reach just shy of $60,000 EOY, than plunge back down to the 78.6% fib at around $20.5k! This means that Bitcoin's previous ATH will actually become a strong support for the continued 2-3 year bull rally. We could also note that by that time, the NVT indicator will probably be flashing a big sell signal, justifying the 60-65% quick plunge from the $60k blowoff top.
Hope you enjoyed!
Cheers,
Leb Crypto
Seeing the powerful parabolic rise of this year, I decided to look at 2017 and try to extrapolate an idea. It's a wild idea, I get it, but it's nice to see for some perspective of how powerful this year's parabolic rise "could" be and how big of a crash we could expect if it does actually play out.
AB= April to Sept 2017
CD= Sept to Feb 2017
AB = CD in 2017 puts the target at $6.7k, which is the 78.6% fib retracement from ATH (blue line). That was Bitcoin's realistic target for EOY. However, Bitcoin being very parabolic in Q4 2017, it decides to go for a moon shot another 184% to the upside, prior to quickly going back down to consolidate upon its intended target of $6.7-6.8k (the 78.6% fib!)
Could the same AB = CD repeat for this year, given the similar powerful 2017ish parabolic rise we're seeing?
AB = Jan - June 2019
CD = June - Dec 2019
If so, we'll see Bitcoin reach just shy of $60,000 EOY, than plunge back down to the 78.6% fib at around $20.5k! This means that Bitcoin's previous ATH will actually become a strong support for the continued 2-3 year bull rally. We could also note that by that time, the NVT indicator will probably be flashing a big sell signal, justifying the 60-65% quick plunge from the $60k blowoff top.
Hope you enjoyed!
Cheers,
Leb Crypto
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.