Text-Book Quality Parabolic Rise on BTC/USD! - By Trading-GuruThis fantastic parabolic ascending on BTC/USD is simply of text-book quality. In this analysis I will walk you through the narrative of how this parabola was formed. I will show to you in retrospect the things we can learn from the price behavior at that time, so that we can take lessons from it and recognize such a pattern more quickly in the future.
Furthermore, I show the bullish scenario of what will happen when this parabola holds. You can see that the price will increase exponentially, giving us a $19,000 prospect still within November of this year.
Lastly, I want to highlight what can happen if the parabola breaks. I did some research into other historical parabolas along with the text-book explanation of what will happen in those cases. And the results aren't pretty, if it does break the price can go down very very rapidly. As exponential as it has increased. So tread carefully everyone.
Here is the order of touchpoints on this parabola that with every step gave us slightly more evidence about the incoming increase in price:
The first of the touchpoints on this parabola were from the 5th of September. We see that the price has hit a temporary low near the $10,000 mark after a big hit in the price coming from $12,000
The second touchpoint happened on October 8th. We can already see here that every time the price dips the bottom is a bit higher than it used to be. For the first time, you can start to see a bullish trend.
From the 19th of October it becomes more evident that the price is rising, the touchpoint here was enough to let the price jump into the air. BTC is officially taking off, in just two days the price increased by 10%!
Early November we see multiple interesting touchpoints. The price is still bullish but struggling. It reached around $14,000 three times in a row and it got rejected on every attempt. Then, when it hit the parabola the price jumped up again!
And finally, the incoming last touchpoint in a few days. If the parabola holds we can expect the price to struggle around the $16,000 level for another 1.5 days. Then if it touches the parabola and it holds, we can expect the next jump in price.
By end November this parabola predicts a price of over $19,000 for BTC! Bringing it close to the resistance of the all-time-high. If you're going in with a long position I suggest to take profit below the ATH as it is very unpredictable what will happen near that level
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
