That's the pattern. However, when I say "weakness" that is very relative to the overall picture. The problem with this technique is that dollar values are impossible to pinpoint. It could be that bitcoin is considered weak in this period because it only goes up to $100K. When you stretch it out on a graph, that $100K will look small compared to what comes after (perhaps it's only $20K - $40K in 2018 and then it jumps to $700K). I also view that chart as being applicable to all crypto in general.
You are viewing a single comment's thread from:
Ah so your chart does not tell higher or lower, only weakness.
So how does this help from the standpoint of where things are going?
I understand the 15 year trend means bullishness yet how can one tell ups and downs? Is that possible or is it only just weakness?
The theory is based upon something that is very anthropomorphic applied to a process that is really much more sterile. If this was the chart of a person, an astrologer would say that the reputation during this time is "idle" because the ruler of the times is in detriment and under the beams of the Sun (made invisible). The Sun is often associated with authority and in Capricorn, represents possible restrictions and regulations coming. But while the symbolism says this according to the rules, bitcoin is not a person and so it doesn't have the same sense of "katarche" (important beginning in Greek).
The key to interpretation is to see it in hindsight. What the chart seems to say is that relative to what happens to crypto in the early 2020's that this period is running idle by comparison. The question is how much. It could be that bitcoin only makes it to $40K by the end of this year and that is considered "idle" because it looks flat on a graph when you compare it to prices in the early 2020's.
Ah okay I understand.
And you feel that the chart for crypto overall mirrors that of Bitcoin....that we are going to see the real upward action in the early 2020s...and there could still be upward moves between now and then, but not as much in comparison?
Am I following correctly?
Yes.
Is this in relation to the % that it jumps from where it starts and ends? 1k to 20k is larger than 20k to 60k? the first jump was much stronger?