Bitcoin: From 64,840 feet
Continuing my (unreasonable?) interest in radial lines as a type of TA, here's a curious take on the familiar 12-year Bitcoin price chart. I don't put much faith in the last radial line (because of the late 2023 date), but it does represent an interesting "idea".
By the way: I'm somewhat critical of those who "fit" a couple of curved lines to Bitcoin's 12-year logarithmic price chart and call it gospel. Parabolas are a *specific* type of mathematical curve. Parabolas are "natural" functions that appear in nature and in many systems and processes -- even (surprisingly) in many that appear to be random and chaotic. The fact that one can fit mathematically-precise parabolas to the highs and lows of Bitcoin's 12-year price history is, in itself, surprising -- and adds some weight to the significance of such charts.
Sincerely,
Bullbearish
(I’m a Bull. But Bear happens.)
PS: Nothing I post should be construed as trading or financial advice.
By the way: I'm somewhat critical of those who "fit" a couple of curved lines to Bitcoin's 12-year logarithmic price chart and call it gospel. Parabolas are a *specific* type of mathematical curve. Parabolas are "natural" functions that appear in nature and in many systems and processes -- even (surprisingly) in many that appear to be random and chaotic. The fact that one can fit mathematically-precise parabolas to the highs and lows of Bitcoin's 12-year price history is, in itself, surprising -- and adds some weight to the significance of such charts.
Sincerely,
Bullbearish
(I’m a Bull. But Bear happens.)
PS: Nothing I post should be construed as trading or financial advice.
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