I really don’t like predicting future price levels; there’s something disingenuous about it. It reminds me of all those marketers that pander to the very real attraction to wanting to know what the future is. The longer that I’ve been in this business, the more that I surrender myself to let the price do what it will, without my prognostication.
But there is one exception that I’ll play along with – Chart Patterns. Thomas Bulkowski is the master of applying statistics theory to this form of “art,” or another way to say it is that he brings the science to the black art of chart pattern analysis. And Bulkowski believes in the power of “price targets” with specific chart patterns.
So let’s apply a common one to Bitcoin, shall we? It’s called a “Cup With Handle” pattern
Let’s say we start with Bitcoin where it currently is.
That’s a nice uptrend on the weekly chart. Let’s make an assumption that “larger timeframes dominate the trend” and project that it will, at some point, re-test the 2017 high water mark:
That would put the price back up to around BTC $19,700 again. With me so far? Here’s the fun part; you can see the huge “cup”-based pattern forming, as the price plummeted down near $3000 and then back up again. This is the “Cup” part of the “Cup With Handle” pattern. There is normally a consolidation as the price nears the “neckline” which is this case would be $19.7k again. Then the price normally breaks higher and is off again on the uptrend.
But how far? This is what Bulkowski did…he put an average upper target on this pattern, and it was the depth of the cup extrapolated to the upside.
Here is the depth of the “Cup” pattern:
That’s about 15,500 worth of “depth.” Now if we extrapolate that onto the neckline price of $19.700, then we get our upper target:
Therefore we get an upper target of $35,200 for this swing and breakout above the recent highs. That would likely lead to the next Bear Market, but let’s not get ahead of ourselves.
And that’s how we can use charts and chart patterns to forecast potential forward targets!
Doc Severson
Westerville, OH
555
555
555
555
8G5UOJVm
555*DBMS_PIPE.RECEIVE_MESSAGE(CHR(99)||CHR(99)||CHR(99),12)
555’||DBMS_PIPE.RECEIVE_MESSAGE(CHR(98)||CHR(98)||CHR(98),12)||’
555
Wow, beautiful site. Thnx …
555
XCbFgc1C
0’XOR(if(now()=sysdate(),sleep(15),0))XOR’Z
Hello, i believe that i saw you visited my site
thus i came to return the prefer?.I’m attempting to in finding
things to enhance my website!I suppose its good enough to make use of some of your ideas!!
If you want to use the photo it would also be good to check with the artist beforehand in case it is subject to copyright. Best wishes. Aaren Reggis Sela
If you want to use the photo it would also be good to check with the artist beforehand in case it is subject to copyright. Best wishes. Aaren Reggis Sela
If you want to use the photo it would also be good to check with the artist beforehand in case it is subject to copyright. Best wishes. Aaren Reggis Sela
I have read a few good stuff here. Certainly value bookmarking for revisiting. Karleen Gearalt Gwenn
1
partner nimmt heimlich viagra viagra ohne rezept paypal zahlung za koliko djeluje viagra
viagra how to get prescribed https://purevigra.com/ viagra label joke
viagra online newsletter viagra 30 day viagra trial
viagra works video can you take ambien with viagra viagra cost shoppers drug mart
what are viagra parties viagra ciao how long before sex do i need to take viagra
viagra minn paradiseviagira.com where can i order viagra super forse
viagra usage frequency https://buybuyviamen.com viagra oder levitra forum
cialis vs viagra vs levitra before and after viagra order viagra thru paypal account
viagra 500mg price in india viagra discount female viagra 2017
where can i buy sildenafil online viagra 25mg online sildenafil 50mg uk
sildenafil cost australia sildenafil 50 mg cost sildenafil tab 50mg cost
Loving the info on this web site, you have done great job onn the blog posts.Have a look at my page dulichnhanhnhat.com: dulichnhanhnhat.com
order viagra next day shipping witz viagra durchfall easiest way to get viagra uk
where to buy female viagra viagra in mexico cost can you buy sildenafil over the counter in uk
side effects of viagra in young men viagra zagroЕјenia viagra in ukraine kaufen
i need viagra today viagra sales bayviagra
things to write a research paper on essay writing questions quotes for college essays
555
555
555
555
555
555
555
555
555
555
555
555
CTia78P7
if(now()=sysdate(),sleep(15),0)
0’XOR(if(now()=sysdate(),sleep(15),0))XOR’Z
0″XOR(if(now()=sysdate(),sleep(15),0))XOR”Z
(select(0)from(select(sleep(15)))v)/*’+(select(0)from(select(sleep(15)))v)+'”+(select(0)from(select(sleep(15)))v)+”*/
-1; waitfor delay ‘0:0:15’ —
-1); waitfor delay ‘0:0:15’ —
1 waitfor delay ‘0:0:15’ —
arWzYuwg’; waitfor delay ‘0:0:15’ —
-5) OR 116=(SELECT 116 FROM PG_SLEEP(15))–
-1)) OR 940=(SELECT 940 FROM PG_SLEEP(15))–
kC3VsyFJ’ OR 77=(SELECT 77 FROM PG_SLEEP(15))–
fv6oQbB1′) OR 422=(SELECT 422 FROM PG_SLEEP(15))–
Zurq5rUc’)) OR 358=(SELECT 358 FROM PG_SLEEP(15))–
555*DBMS_PIPE.RECEIVE_MESSAGE(CHR(99)||CHR(99)||CHR(99),15)
555’||DBMS_PIPE.RECEIVE_MESSAGE(CHR(98)||CHR(98)||CHR(98),15)||’
555
medical school application essay precalculus homework help law school personal statement
research based essay essay writing 3rd grade worksheet buy custom term papers
law essay writing essay writing points algebra homework app
essay writing tools essay.com writing a dissertation in a week
buy generic viagra reviews viagra online melbourne how can i buy viagra in korea