InTheBellyOfCharonsWhale
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Bitcoin Fibbonaci Target $34,000.Parabola bottom support holds.

BITFINEX:BTCUSD   比特幣 / 美元
As you can see, Bitcoin             has been in a geometric             parabola since 2013. Another smaller parabola began in 2015 within that larger geometry and thats within the blue lines. The parabola has several support and resistance touches going back to 2015 either side. It just recently tested the upper boundary at 20k and the lower boundary when we dropped near 10k but support has held firm.

The Parabolic Curve is probably one of the most highly prized and sought after pattern. This pattern can yield you the biggest and quickest return in the shortest possible time. Generally you will find a few of these patterns at or near the end of a major market advance. The pattern is the end result of multiple base formation breaks.

The trend is based on multiple Elliot waves 12345 that have not been allowed a corrective ABC wave. This can be seen in the graph as the top resistance of the Elliot patterns in red, and bottom support in black. Were now onto our third Elliot wave of the pattern with the trend shifting upward and gaining pace rapidly. (I'll post this below and show where we should have gotten corrective wave but where another 12345 wave continues) This is the essence of parabolic growth and as you can see by the price on the side of the this chart is done using logarithmic charting. Trying to chart this on a normal scale chart wouldn't make sense at all.



Next target based on parabolic trend based Fibonacci extension of 1.618 which is most common fib extension level is around $34,000 at the top of the parabola which will be where our Elliot wave point 3 is. with a 1:1 extension target of $25,000 before that. My parabola isnt drawn perfectly so keep in mind there is a little wiggle room w the upper and lower boundaries. (I'll see if I can add a closer up view of the chart where the Fib extension is). If this target hits we can expect a retrace to the support around 20kish and support holds, we can expect one more push north for elliot wave point 5 with a tentaive early target of 63k which aligns with for now before it decides it wants to trend shift up again within the parabola or break down and retrace.


I've posted on this parabolic trend before but this is a better overview with the larger geometric             parabola with more firm technical targets and analysis,


As I've stated before, bitcoin             is in the early stages of S-Shaped technological adoption curves that all major technologies such as radio, tv, phones , electricity, computers etc go through as they start their way as new technologies to mass adaption by the masses. The same will happen with bitcoin             if you are reading this you are likely in the early adopter phase. Some institutional investors have started flowing in with large players like Mark cuban leading the way. It has just started to reach the wider public eye and with some anecdotal evidence I have talked with many people in the last few weeks hear about it I wouldnt have thought would but when asked none have bought with 1 or 2 considering. This is where it will start to change as people with start FOMO buying (Fear of Missing out) when the price gets higher and will help fuel the growth as the market saturates and more people come in. The fact you see a lot of my recent posted trades have been on altcoin bitcoin             - pairs that will hopefully appreciate hugely compared to bitcoin             . The goal should be to accumulate as much bitcoin             as possible for the long run as there will only ever be 21 million created so there is natural scarcity and it is a non- inflationary asset (unlike the dollar even though this is what we all want to cash out into)with bitcoin             also having many uses besides being rare.

S shaped Adopton curves

https://www.google.com/search?q=s+Shapes+adoption+curves&rlz=1C1CHBF_enIE707IE707&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjR64KMsrPYAhUBYiYKHTx5Bo0Q_AUICigB&biw=1366&bih=637#imgrc=F6g
評論: S shaped adoption curves

https://www.google.com/search?q=s+Shapes+adoption+curves&rlz=1C1CHBF_enIE707IE707&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjR64KMsrPYAhUBYiYKHTx5Bo0Q_AUICigB&biw=1366&bih=637#imgrc=7Nef_Od2PUyoEM:
評論: "Adoption of Technology in USA 1900 to present using Sshaped adoption curves" https://www.google.com/search?q=s+Shapes+adoption+curves&rlz=1C1CHBF_enIE707IE707&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjR64KMsrPYAhUBYiYKHTx5Bo0Q_AUICigB&biw=1366&bih=637#imgrc=F6gns8B8DWz8CM:
評論: Over 200 Billion dollars entered cryptospace market-cap in last week. Its the beginning /charts/#
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@BrianRonayne1, Thanks bro spent a lot of time at it at made to sure be able to explain it so it made sense to me
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