OK, sorry for the delay.... here's the latest update on the graphs, for phase 2:
Up to this point, the trend has continued exactly as it did in the previous 2 cycles during this phase; a relatively flat period to start, followup by a sudden jump (indicated by the arrows), a small plateau, then the real takeoff.If (and that's a big if) the trend continues from here in the same way, then we should be heading much higher. Note that I adjusted the vertical scale on the cycle 3 graph to better reflect both the relative height of increase as well as the resistance we faced at $600.
Here is the zoomed out view of the whole cycles (still on linear scale):
However, and i will say it again, these graphs are only showing what is currently happening as compared to previous times. I absolutely cannot say that the price trend will go to new highs as in the past, only that the pattern looks the same. I just don't want anyone to think I am trying to convince them to buy. I still personally think there is room to go up, but who knows.
It may not be that bad.. it looks to be taking 900 days for the whole sentiment-cycle to repeat, but we also had some nice new highs previously in phase 1 (which is only about 500 days away
)
BTW, my back is getting better - thanks for the wishes. The fact that this past weekend all my previous bitcoin purchases are now positive relative to the purchase price, certainly helps things feel better.
Up to this point, the trend has continued exactly as it did in the previous 2 cycles during this phase; a relatively flat period to start, followup by a sudden jump (indicated by the arrows), a small plateau, then the real takeoff.If (and that's a big if) the trend continues from here in the same way, then we should be heading much higher. Note that I adjusted the vertical scale on the cycle 3 graph to better reflect both the relative height of increase as well as the resistance we faced at $600.
Here is the zoomed out view of the whole cycles (still on linear scale):
However, and i will say it again, these graphs are only showing what is currently happening as compared to previous times. I absolutely cannot say that the price trend will go to new highs as in the past, only that the pattern looks the same. I just don't want anyone to think I am trying to convince them to buy. I still personally think there is room to go up, but who knows.
On the negative side, I worry that after a few days of rise, we have to wait 900 days to see a new high.
It may not be that bad.. it looks to be taking 900 days for the whole sentiment-cycle to repeat, but we also had some nice new highs previously in phase 1 (which is only about 500 days away
) BTW, my back is getting better - thanks for the wishes. The fact that this past weekend all my previous bitcoin purchases are now positive relative to the purchase price, certainly helps things feel better.