Monthly Levels = White
Weekly Levels = Purple
It is known that Bitcoin moves in parabolic waves. First it accumulates for a little over a month, then it has a parabolic move up of around 60% before another accumulation.
The 1st move in May was 54%, followed by a month accumulation before the next move in June that was a 69% gain.
Now, were in the middle of the 3rd wave accumulation, longer than the other ones, but will be more explosive than the others. We'll see a test of the previous ATH or even a new one.
The long term trend line I drew stends from the bottom of the market in April and has held it since. This is a good indicator that Bitcoin will stay around the 11-12k range for the rest of August, then go parabolic in September.
All the stars are aligning for the next move up, all the talk at the Federal Reserve, media talking about Bitcoin becoming a digital store of value and a hedge on the same level as Gold/Silver, as well as the very scarcity of the coin.
More and more sheeple are waking up to the fact that the world's economy is going down and are looking for a hedge/store of value against that. Bitcoin is the answer they are looking for.
Long live Bitcoin, short the banks.
Weekly Levels = Purple
It is known that Bitcoin moves in parabolic waves. First it accumulates for a little over a month, then it has a parabolic move up of around 60% before another accumulation.
The 1st move in May was 54%, followed by a month accumulation before the next move in June that was a 69% gain.
Now, were in the middle of the 3rd wave accumulation, longer than the other ones, but will be more explosive than the others. We'll see a test of the previous ATH or even a new one.
The long term trend line I drew stends from the bottom of the market in April and has held it since. This is a good indicator that Bitcoin will stay around the 11-12k range for the rest of August, then go parabolic in September.
All the stars are aligning for the next move up, all the talk at the Federal Reserve, media talking about Bitcoin becoming a digital store of value and a hedge on the same level as Gold/Silver, as well as the very scarcity of the coin.
More and more sheeple are waking up to the fact that the world's economy is going down and are looking for a hedge/store of value against that. Bitcoin is the answer they are looking for.
Long live Bitcoin, short the banks.
