Parabolic Curve Theory idea for $PNT vs $BTC
***This is a personal opinion charted to keep track and correct. I've made it public for my own educational purposes if anyone wants to shed some light on the interpretation of this theory. Comments are very welcome***
This is a daily chart for pNetwork
PNT against 
BTC, currently trading at +/-4,000 satoshi.
Corresponds to a clear symmetrical Rounded Bottom that spans 260+ days from it's start to actual date of this publishing. The depth is 1,250% which equals a 12K satoshi increase on price value.
Rounded Bottoms in simple are made up of two movements: The first half is a descending parabolic curve setting lower lows with weak uptrends, which results in the fore mentioned shape. Many refer to this pattern as a panic sell setup where holders settle for getting as much of their investment back as possible after an initial mass take profit, often after a long uptrend. At the base of this movement sellers are practically non-existant and price attracts buyers.
The second half consists of the opposite, increasing interest in the asset produces higher highs with increasingly weaker take profits, periods of accumulation along the way with steeper buying rallies giving into a panic buying sentiment and taking price action to an euphoria level.
Theory indicates that in the case of Rounded Bottoms, unlike single parabolic curves, once back to previous ATH produces two possible outcomes:
1) an explosive increment of price value or
2) kickstarts a take profit period thus shaping the well known cup and handle pattern.
In this case I've taken the structure of the parabolic curve to keep track of price actions' relation to fib levels and will be keeping a log with constant updates even in case this doesn't play out.
Fibs are traced in yellow dotted lines for the .236, ,382, .5 , .618, .786 and 1.000 levels. I've taken the theoretical revisit of previous ATH as start and the very base as the end for fib retracement placing in order to have these levels show from the bottom up.
What I expect for the immediate future is price action to bounce off the projected curve and initiate an uptrend to head from the actual base 1 to base 2.
(PCT) Parabolic Curve Theory states that the price action enters 4 accumulation stages where it moves to the right and bounces off the curve. For transparency I am actually trading this asset under the conviction that it is a Rounded Bottom and will be taking profit on every base and reenter the trade on bullish candle confirmation close on a 4-hour chart. Projected profit for me is 200+% over the span of maybe 2 months.
This is a daily chart for pNetwork
PNT against BTC, currently trading at +/-4,000 satoshi.Corresponds to a clear symmetrical Rounded Bottom that spans 260+ days from it's start to actual date of this publishing. The depth is 1,250% which equals a 12K satoshi increase on price value.
Rounded Bottoms in simple are made up of two movements: The first half is a descending parabolic curve setting lower lows with weak uptrends, which results in the fore mentioned shape. Many refer to this pattern as a panic sell setup where holders settle for getting as much of their investment back as possible after an initial mass take profit, often after a long uptrend. At the base of this movement sellers are practically non-existant and price attracts buyers.
The second half consists of the opposite, increasing interest in the asset produces higher highs with increasingly weaker take profits, periods of accumulation along the way with steeper buying rallies giving into a panic buying sentiment and taking price action to an euphoria level.
Theory indicates that in the case of Rounded Bottoms, unlike single parabolic curves, once back to previous ATH produces two possible outcomes:
1) an explosive increment of price value or
2) kickstarts a take profit period thus shaping the well known cup and handle pattern.
In this case I've taken the structure of the parabolic curve to keep track of price actions' relation to fib levels and will be keeping a log with constant updates even in case this doesn't play out.
Fibs are traced in yellow dotted lines for the .236, ,382, .5 , .618, .786 and 1.000 levels. I've taken the theoretical revisit of previous ATH as start and the very base as the end for fib retracement placing in order to have these levels show from the bottom up.
What I expect for the immediate future is price action to bounce off the projected curve and initiate an uptrend to head from the actual base 1 to base 2.
(PCT) Parabolic Curve Theory states that the price action enters 4 accumulation stages where it moves to the right and bounces off the curve. For transparency I am actually trading this asset under the conviction that it is a Rounded Bottom and will be taking profit on every base and reenter the trade on bullish candle confirmation close on a 4-hour chart. Projected profit for me is 200+% over the span of maybe 2 months.
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