Bitcoin: What does 'fractal' analysis say...a different approach.
Bitcoin does exactly everything what is should do: follow the patterns... and touches almost the neckline of the big green h/s pattern... We could see here an upward bounce...and go above the 1000 mark...before we go somewhat down again and take its time to take a breather.
Within the big green h/s pattern we can determine three bowls, I have highlighted them in blue.
We can see the same pattern repeating itself... a bowl. (Bowl 1,2,3)
Each pattern takes time to form.
Bowl 1, 2 and 3 took about 7-10 months to build up enough momentum to breakout upwards...
If we assume that we will see the same pattern (bowl 4) developing within the big green pattern we should have to wait and be patient for 7 to 8 months... before we could see bowl 4.
But could be a lot shorter (3-4 months) because of the lack of necessity to build the BIG base of the cup, (all the hard work is don) and therefore time is less important.
Extra remark:
All the bowls we see have roughly the same price targets...in percentage...
Into bitcoin flows more and more money...
If Bitcoin wants to compete with VISA or PAYPAL we should go at least 10 x higher...
Bitcoin does exactly everything what is should do: follow the patterns... and touches almost the neckline of the big green h/s pattern... We could see here an upward bounce...and go above the 1000 mark...before we go somewhat down again and take its time to take a breather.
Within the big green h/s pattern we can determine three bowls, I have highlighted them in blue.
We can see the same pattern repeating itself... a bowl. (Bowl 1,2,3)
Each pattern takes time to form.
Bowl 1, 2 and 3 took about 7-10 months to build up enough momentum to breakout upwards...
If we assume that we will see the same pattern (bowl 4) developing within the big green pattern we should have to wait and be patient for 7 to 8 months... before we could see bowl 4.
But could be a lot shorter (3-4 months) because of the lack of necessity to build the BIG base of the cup, (all the hard work is don) and therefore time is less important.
Extra remark:
All the bowls we see have roughly the same price targets...in percentage...
Into bitcoin flows more and more money...
If Bitcoin wants to compete with VISA or PAYPAL we should go at least 10 x higher...
