I disagree. Risto specifically developed the trendline & formula to support the fundamentals in mind, ie. $300k USD/BTC for a fair price in the position of Bitcoin being a major facilitator of trade worldwide. Thus, the fitting has been rigged to match these perceived fundamentals. Given other projections, the trendline could be adjusted with an altered or altogether different formula, still seeming to "match perfectly" with the secular trend with constant deviations from the trendline.

Thus, it all is to a large degree sleight of mind. The only aspect that is obvious for everyone is the exponential uphill. How steep in the big picture is anyone's guess. I consider Risto's version rather solid compromise, with a beautiful connection and parables to the laws of nature that govern this world (can't remember how or through whose arguments I came to this conclusion).

On a more esoteric angle, I personally believe the order and laws behind all natural phenomena can be successfully extrapolated to macro environments like collective valuation of financial instruments. I'm no specialist in TA but am inclined to think that's the particular point why Technical Analysis works.

Bitcoin price is a result of natural phenomena consisting of numerous layers of invisible laws of large numbers governing the average distribution of stuff. As such, the laws add up to a sort of very complex interference pattern that reveals a virtual image to an outside observer. A bit like Moire pattern:



See the whiteish - convex cylinder that comes up in the middle of the two large rings. That's a Moire pattern. If you examine it, it's not drawn anywhere and you will have to conclude it appears spontaneously, more likely unintended. Yet it's a very specific form arising out of the interaction of the properties of the two large red-blue rings.

If a guy has found such a pattern in Bitcoin price and made it visible from all the noise, and if that even somehow matches a long history up to this point, I'm going to listen to him very closely.

Remember; As above, so below.