BTC triangle theory - the big pictureBitcoin seems to be regressing to the mean with the latest bull run. On a logarithmic view, a linear or even exponential upward trend can appear as a gradually flattening or asymptotic curve (the white line that bisects the highs and lows). This trend is identified by smoothing out the price history with a geometric "best fit" and with trend lines (in dark green) that can be drawn retrospectively extending from prior lows to subsequent highs. Extrapolating this pattern onto the recent BTCUSD chart, and with weekly closing prices as a guide, we see that bitcoin is now once again approaching (at around $90K USD) the mid-region of its potential for historic gains. The top half of these gains have been highlighted with a triangle, which in each cycle features a base along the smoothed mean. The final triangle, yet to be filled, is an extrapolation of the past pattern of cycles.
