In this theory we take the 2013 cycle as a trend line and place the correction from ATH > ATLs. History claims that in every cycle we have completed this pattern. There are 3 set rules in order to confirm a bottom is being made.
Note: These trendline are all identical and are not manipulated in anyway. Trendlines may vary on other BTC pair charts.
2013 Cycle - Marks the Power of 3 (Template)
1. Bottom Trend Line - Marks from absolute bottom target to previous low.
2. Median Trend Line - Marks from absolute bottom target to 50% projection retracement.
3. Top (Confirmation) Trend Line - Marks from absolute cycle top draw down to intersect points of 1 and 2 and must not cross or overlap.
At point 3 confirmation you need to see a PIN point mark.
Based on this theory, when these 3 lines intersect at their lowest point and it marks a cycle bottom, you have confirmation.
I've marked that a Fib Ring to POC from 2018 as a point that could be potentially marking a confirmation bottom. If this mark is not hit then it is much further down.
Note: These trendline are all identical and are not manipulated in anyway. Trendlines may vary on other BTC pair charts.
2013 Cycle - Marks the Power of 3 (Template)
1. Bottom Trend Line - Marks from absolute bottom target to previous low.
2. Median Trend Line - Marks from absolute bottom target to 50% projection retracement.
3. Top (Confirmation) Trend Line - Marks from absolute cycle top draw down to intersect points of 1 and 2 and must not cross or overlap.
At point 3 confirmation you need to see a PIN point mark.
Based on this theory, when these 3 lines intersect at their lowest point and it marks a cycle bottom, you have confirmation.
I've marked that a Fib Ring to POC from 2018 as a point that could be potentially marking a confirmation bottom. If this mark is not hit then it is much further down.
Note
Well just an update zoomed inNote
So I will close this theory off as target has been missed and we have surpassed the target area. In fact the ring provided support and we have since rallied up.Trade closed: stop reached
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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.