Well, as you can see, btc had two parabolic movements in the past, in case we see a fractal, we should start bouncing in a new and faster parabolic movement (i see it unlikely now) IN CASE btc goes parabolic, top would be around 66-88k.
(parabolic moves from top to top)
past:
1st parabolic movement from 16 usd to 260usd: 1500%
82% retracement.
2nd parabolic movement from 260usd to 1170: 335%
88% retracement followed by a long consolidation period.
pic 1
s3.amazonaws.com/tra...shots/8/8CIoPi3b.png
Present:
(top to top)
1st parabolic movement from 1170 to 19850usd: 1500% (sounds familiar?)
this is the part where i doubt, we only retraced 70% from previous ath.
So in case btc decides to retrace 80% like previous retracements i placed that blue line.
My bet:
1ST SCENARIO:
2nd parabolic movement (in case we keep going and forget 80% retracement) from 19850 to 88800usd: 334% (sound familiar?)
86% retracement - bottom around previous ath (19k and weekly support, 12k. like previous run, bottom were found around previous ath and weekly resistance (check pic 1)
pic 2
s3.amazonaws.com/tra...shots/n/N3aud9xG.png
2ND SCENARIO.
Btc doesnt bounce and go for 80% retracement. We consolidate for a long period until we touch pink trendline.
(check pic 1 to see where it starts)
pic 3
s3.amazonaws.com/tra...shots/n/nNgP8tPY.png
pic 4
s3.amazonaws.com/tra...shots/x/XKFSV7BB.png
s3.amazonaws.com/tra...shots/x/XOYH8nSO.png
As you can see in this scenario i expect bitcoin to revisit that pink trendline that in my opinion is very very important.
both cases are very bullish in the long term.
(parabolic moves from top to top)
past:
1st parabolic movement from 16 usd to 260usd: 1500%
82% retracement.
2nd parabolic movement from 260usd to 1170: 335%
88% retracement followed by a long consolidation period.
pic 1
s3.amazonaws.com/tra...shots/8/8CIoPi3b.png
Present:
(top to top)
1st parabolic movement from 1170 to 19850usd: 1500% (sounds familiar?)
this is the part where i doubt, we only retraced 70% from previous ath.
So in case btc decides to retrace 80% like previous retracements i placed that blue line.
My bet:
1ST SCENARIO:
2nd parabolic movement (in case we keep going and forget 80% retracement) from 19850 to 88800usd: 334% (sound familiar?)
86% retracement - bottom around previous ath (19k and weekly support, 12k. like previous run, bottom were found around previous ath and weekly resistance (check pic 1)
pic 2
s3.amazonaws.com/tra...shots/n/N3aud9xG.png
2ND SCENARIO.
Btc doesnt bounce and go for 80% retracement. We consolidate for a long period until we touch pink trendline.
(check pic 1 to see where it starts)
pic 3
s3.amazonaws.com/tra...shots/n/nNgP8tPY.png
pic 4
s3.amazonaws.com/tra...shots/x/XKFSV7BB.png
s3.amazonaws.com/tra...shots/x/XOYH8nSO.png
As you can see in this scenario i expect bitcoin to revisit that pink trendline that in my opinion is very very important.
both cases are very bullish in the long term.
