Well, as you can see, btc had two parabolic movements in the past, in case we see a fractal, we should start bouncing in a new and faster parabolic movement (i see it unlikely now) IN CASE btc goes parabolic, top would be around 66-88k. (parabolic moves from top to top) past: 1st parabolic movement from 16 usd to 260usd: 1500% 82% retracement. 2nd parabolic movement from 260usd to 1170: 335% 88% retracement followed by a long consolidation period. pic 1 s3.amazonaws.com/tradingview/snapshots/8/8CIoPi3b.png
Present: (top to top) 1st parabolic movement from 1170 to 19850usd: 1500% (sounds familiar?) this is the part where i doubt, we only retraced 70% from previous ath. So in case btc decides to retrace 80% like previous retracements i placed that blue line. My bet: 1ST SCENARIO: 2nd parabolic movement (in case we keep going and forget 80% retracement) from 19850 to 88800usd: 334% (sound familiar?) 86% retracement - bottom around previous ath (19k and weekly support, 12k. like previous run, bottom were found around previous ath and weekly resistance (check pic 1) pic 2 s3.amazonaws.com/tradingview/snapshots/n/N3aud9xG.png