5 Bitcoin Price Patterns You Should See
Ever since Bitcoin came into the spotlight in relation to its price growth, traders and chartists have been constantly trying to figure out the rules for that price growth. And in this article I am going to introduce everyone to 5 famous charts for Bitcoin price rise.
1. Logarithmic growth diagram of Trolololos
In October 2014, Bitcointalk user Trolololo released the first chart of Bitcoin’s bullish pattern. The model is an idea based on the logarithmic regression of values from the past market.
If you look at it, the accuracy of this price forecast chart gives an amazing result. On November 22, 2017, BTC cracked the $ 10,000 mark for the first time, almost exactly on the date shown in the picture. The next milestone for this $ 100,000 pricing model on July 16, 2021 is not too far away, everyone agrees.
2. Stock-to-flow diagram
Anyone who follows the Thuan Capital Channel is probably not all that familiar with this bullish model of Bitcoin, right. PlanB tries to base the math on the assumption that Bitcoin’s value comes mainly from scarcity. In short, Bitcoin’s value growth model is heavily based on halving. The model suggests that BTC will be worth $ 100,000 by April 2021.
3. Rainbow chart
If you prefer something with more color you can check out the table shown above. Basically, the rainbow curve for BTC is based on Trolololo’s logarithmic regression – but it looks better! The rainbow in this pattern represents your investment advisor: the warmer the color, the higher the valuation of the cryptocurrency. When the price moves towards the red area, we are approaching the bubble area and buzzing around Bitcoin on Google.
4. Bitcoin annual candles
Many of the channel’s followers often write with the question, “How can we see what the big sharks in the market are seeing?” The question is, don’t professional traders see prices in the form of the candlestick charts that we see every day? The answer could be in the chart presented above, because if you want an overview of the long-term trend, this chart is the right choice.
5. Bitcoin Cycles
Bitcoin’s growth is currently described by many analysts as separate cycles. Little is known, however, about how these cycles are symmetrical. More specifically, the duration of the bear and rise cycles have been almost identical in the past. This is shown in great detail by the Exchange Bitstamp chart published in February of this year.
Synthesized from Crap – Synthetic team