The 235 Day Cycle (somehow) is Still Not Dead
So I figured this one out a few weeks too late from our $500 top, but hilariously we are still on track for this - somehow. Curve-fitting to the max but it's interesting to see nevertheless. We also see peaks in the network transactions\day to this same timetable too. Network transactions double every period, and they peak within 48hr of price peaking. April $266 had 50,000 transactions. Nov $1163 had 93,000 transactions. November $504 had 180,000 transactions. Next stop is 360,000.
This doesn't say what direction the top will be relative to now, it just says that this time period will be a top. We can set a higher high above $500, or a lower high below $500, but if history were to repeat (again) we would be seeing a local top around the bitcoin halving coming up this summer.
The next few weeks will dictate the trend we will be on for the incoming year leading up to the next halving IMO. We exited the 2015 ranging market with $300 as our major resistance turned support, so dropping below before bouncing up this June would be quite ominous.
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Of course, because I'm publishing this, the law of predictions state that I will be completely wrong and nothing at all will match up from any point going forward. That's just how these things work, eh?
I am also publishing this chart from a QUANDL dataset to get the all-time price history, hopefully this will playback properly in the future.
This doesn't say what direction the top will be relative to now, it just says that this time period will be a top. We can set a higher high above $500, or a lower high below $500, but if history were to repeat (again) we would be seeing a local top around the bitcoin halving coming up this summer.
The next few weeks will dictate the trend we will be on for the incoming year leading up to the next halving IMO. We exited the 2015 ranging market with $300 as our major resistance turned support, so dropping below before bouncing up this June would be quite ominous.
________________________________
Of course, because I'm publishing this, the law of predictions state that I will be completely wrong and nothing at all will match up from any point going forward. That's just how these things work, eh?
I am also publishing this chart from a QUANDL dataset to get the all-time price history, hopefully this will playback properly in the future.
Trade geschlossen: Ziel wurde erreicht:
Target is still a few days away, but it looks like the local top has been put in place. Tango delta bravo, the market has repeated history surprising everyone and nbody at the same time.
Kommentar:
Entering the timeframe window on a markup period... what will you do bitcoin. Bid support seems strong, lots of bids on stamp chasing it up.
Short squeeze is over now. Time will tell where the next few weeks take us through this date. Sideways is the best case for bulls.
Short squeeze is over now. Time will tell where the next few weeks take us through this date. Sideways is the best case for bulls.
Kommentar:
235 day cycle coming up. October 10th, +\- a week or so.
Tick tock. Will update again as we enter February.