Bitcoin Forum

I'm not averse to drawing lines on things, so in order to answer the question on everyone's lips, which is when is the current run up going to correct, I thought I'd try something new...

https://i.imgur.com/INJajvE.png (http://imgur.com/INJajvE)

The first run up to ~$32 gives us two price points, the point where the run up started and the high point at which the correction came. This allows us to draw a line (A).

The second time this happened was in the run up to $266, again the point where steady growth started to run away, and the correction point describe another line (B).

The intersection of these two lines, becomes the origin (Origin), from which it is possible to project knew lines, when a new run up commences - such as seems to be beginning now, here I have projected from the origin to the start of the run up a few days ago (C)

The next part of the projection comes from the high points themselves, these describe a further gradient (D), which intersects the projected run up lines. Where it intersects the current run up projection the indicator shows both the target price point (E) and date (F) at which the correction will occur.

As you can see the latest run up is probably only going to run for another fortnight before it corrects just before the end of november, slightly over the $500 mark.

Extrapolating in this fashion its clear to see that as time goes on this method handily projects the run up trajectory and correction points during this manic growth phase of bitcoin. Of course once we hit mass market adoption this becomes redundant. During this growth phase though it is sound. As time goes on the shallower rate of increase, and the duration/correction point being proportional to the length of time between run-ups, but also becoming less 'euphoric bubble' and more a tendency towards stable growth, with the most important thing being to note about the method being, that if you believe this crap, then you are crackpot insane.

You sum it up nicely with that last sentence, but to play along, this is an intriguing method.  I have a feeling that time will prove the gradient line needs to be a curve of some sort.  Of what type, we can't really guess until we have more than 2 data points.  But, I suppose we could speculate.

I think TA has some merit, its just *my* TA that likely doesn't :)

I see this indicator is far too advanced for the speculation sub forum! hehe

You call it CRRAP and I think it is the most sensible set if lines drawn on a price chart yet.   :)

Then CRAP, it will be $500 this time, then.

Angels fly, because they take themselves lightly. Well done, OP!

Well thanks! thats probably the nicest thing I've ever seen posted on this forum ever!