Bitcoin Power of 3
Updated
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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