The trend lines of this chart together with (at the time I thought) a possible Head and Shoulders forming (a - g in Blue) together with a more significant H & S: A - G in Red was originally plotted in early December 2021. Six Months later it is uncanny how the prediction has tracked. Accordingly I now publish for your perusal.
The Chart: The Image insert shows BTC Daily Data from 2015 - Inserted to show how H (High) Peak, L (Low) Base and V (Visual) Base Trends are formed. The wide red channel under the L Base Trend is a warning zone - BTC has NEVER fallen below the L Base Tend Line, see where we are now.
Bitcoin can either Bounce off the Low Base Trend or... I don't want to consider the only alternative.
Considerations:
1. a - Technology - is the BTC currency (Level 1 blockchain) being replaced by superior technologies such as ADA Cardano (Level 3) after ETH (Level 2) ?
b - AI & Supercomputing - Cracking the Algorithms, blockchain security Could BTC & Other chains be rendered useless?
2. Going Green - As identified by (science) and a drastic Board decision by Elon Musk plus Global needs to reduce Carbon emissions, BTC?
3. Uptake - Low volume of outlets accepting BTC in exchange for goods or services whereas other networks, because of their utility, are way ahead and rapidly scaling.
4. State Player interference.
5. Value - ? ? ? ?
I think BTC will Bounce and so I imagine everyone else does too, but hey! :)
Good Luck to one and all.
The Chart: The Image insert shows BTC Daily Data from 2015 - Inserted to show how H (High) Peak, L (Low) Base and V (Visual) Base Trends are formed. The wide red channel under the L Base Trend is a warning zone - BTC has NEVER fallen below the L Base Tend Line, see where we are now.
Bitcoin can either Bounce off the Low Base Trend or... I don't want to consider the only alternative.
Considerations:
1. a - Technology - is the BTC currency (Level 1 blockchain) being replaced by superior technologies such as ADA Cardano (Level 3) after ETH (Level 2) ?
b - AI & Supercomputing - Cracking the Algorithms, blockchain security Could BTC & Other chains be rendered useless?
2. Going Green - As identified by (science) and a drastic Board decision by Elon Musk plus Global needs to reduce Carbon emissions, BTC?
3. Uptake - Low volume of outlets accepting BTC in exchange for goods or services whereas other networks, because of their utility, are way ahead and rapidly scaling.
4. State Player interference.
5. Value - ? ? ? ?
I think BTC will Bounce and so I imagine everyone else does too, but hey! :)
Good Luck to one and all.