Based on PentarhUdi's analysis of the bitcoin channels, I outlined the movement of bitcoin in its 3 major movements.
The bitcoin is repeating the movement pattern made in 2011 to 2013. Being a congestion period on the lower channel until the lower channel is broken to seek the upper channels in 3 major movements.
Based on the correction time of 2011/2012 and that of 2014/2016, a factor of 1.9244 was observed, which allowed us to predict the duration of the next correction.
*Analysis made for curiosity, which should not be used as the basis of investments by other people.
The bitcoin is repeating the movement pattern made in 2011 to 2013. Being a congestion period on the lower channel until the lower channel is broken to seek the upper channels in 3 major movements.
Based on the correction time of 2011/2012 and that of 2014/2016, a factor of 1.9244 was observed, which allowed us to predict the duration of the next correction.
*Analysis made for curiosity, which should not be used as the basis of investments by other people.
Note
The movement is following the waiting. But it is evolving at a slower pace than the one designed. We should take more time to reach targets.It follows a more concise projection for a longer term. See white lines.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.