The Parabolic Curve is probably one of the most highly prized and sought after pattern. This pattern can yield you the biggest and quickest return in the shortest possible time. Generally you will find a few of these patterns at or near the end of a major market advance. The pattern is the end result of multiple base formation breaks.
The price is currently touching the bottom edge of the parabola and if it breaks then I guess this pattern is invalidated for the future, if not we might see some seemingly crazy upward price movements in the next year. The price has multiple touches on both sides of the parabola over the last several years(Mine isnt drawn greatly). Analysis is a widely used method and technique for charting an trading. In the parabola it seems that the corrective wave is not allowed to take place, instead we get another 1234 initial wave. The peak of these waves(red lines) have seemingly turned into support for the 2nd touch of the next wave . If that turns out to be the case that the last black line drawn is support for the next 1234 wave and would have one more higher touch the(4) with the peak possibly being much higher. Not sure how far to draw these though so I guess we'll have to see.
Because bitcoin is a new technology that is in an S-shaped adoption curve which happened with pretty much every major technology like electricity etc, and it has just started to reach the wider public eye, it has not yet hit full adoption or early saturation. If you are reading this you are likely in the early adopter phase. I will link several graphic below that will help explain. that being said that there is likely many more people the enter bitcoin because it is this early in the adopter phase, another parabolic run is likely in the future, even if it not continued at this moment in time and a there is a large retrace period first. The fact you see a lot of my recent trades have been on altcoin bitcoin pairs that will hopefully appreciate hugely compared to bitcoin . The goal should be to accumulate as much bitcoin as possible for the long run as there will only ever be 21 million created so there is natural scarcity and it is a non- inflationary asset (unlike the dollar even though this is what we all want to cash out into)with bitcoin also having many uses besides being rare.
S shaped adoption