bitcoin long term 2011/2020 price
Updated
interesting observations on btcoins price history.
--Bitcoin (blx coin) on 1W timeframe--
-aproxx every 53 bars, or 370 days before each block halving, the price finds a bottom:
(eg: oct/nov2011, june2015, and more recently march 2019 and march 2020)
Price coils inside the fractal trendlines (red and purple flag formation on 1W tf), then breaks out on/around the time of the block halveninnng.
Price makes a new ATH and roughly after 600 days (1 year and half) passing the halving, the price is already on its way down from the bubble pop, eg: Aug2011, Jun/Jul2014, April/May2018, and if the fractal continues then March2022 in 1.5years from now, finds new bottom 378 days before the halvening of 2024 on or around Q1 of 2023
--Now the question is, since the price hasn't yet broken out of the flag formation (red and purple support and resistance trendlines) it can even breakout between Q4 of 2020 and Q1 of 2021. The price reaching the top of the red resistance trendline and retesting as support then taking off and next bubble poppin on or around march 2022.
IF the price breakouts like previous halvings, price will be the following the same projection as the yellow and blue fractrals
--Bitcoin (blx coin) on 1W timeframe--
-aproxx every 53 bars, or 370 days before each block halving, the price finds a bottom:
(eg: oct/nov2011, june2015, and more recently march 2019 and march 2020)
Price coils inside the fractal trendlines (red and purple flag formation on 1W tf), then breaks out on/around the time of the block halveninnng.
Price makes a new ATH and roughly after 600 days (1 year and half) passing the halving, the price is already on its way down from the bubble pop, eg: Aug2011, Jun/Jul2014, April/May2018, and if the fractal continues then March2022 in 1.5years from now, finds new bottom 378 days before the halvening of 2024 on or around Q1 of 2023
--Now the question is, since the price hasn't yet broken out of the flag formation (red and purple support and resistance trendlines) it can even breakout between Q4 of 2020 and Q1 of 2021. The price reaching the top of the red resistance trendline and retesting as support then taking off and next bubble poppin on or around march 2022.
IF the price breakouts like previous halvings, price will be the following the same projection as the yellow and blue fractrals
Note
Very important to keep in mind:bitcoins price history from 2010-2020 has been highly correlated with other major financial instruments and assets.
The DJI for example:
between 2010 and 2015 when bitcoin experienced two bubble pops nevertheless making new higher lows each time. Meanwhile DJI and the global stocks are also going higher - imgur.com/a/xNp0hi9
Same thing between 2015-2020 - imgur.com/a/xNp0hi9
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