Re: Extrapolating 2014 Correction: Could $6,500 Be The Low For Bitcoin?
OP updated, still very much following the accumulation path, not much else to add:
The network strength now has confluence with $6,500 being the low, as well as accumulation theory:
The network strength now has confluence with $6,500 being the low, as well as accumulation theory:
Daily chart 2015-2019 - currently signalling recovery stage of miner capitulation, awaiting price follow through for buy signal:
Signals (2015-2019):
$234, January 28th 2015 (5)
$234, May 2nd 2015 (6)
$238 May 28th 2015 (7)
$612, September 4th 2016 (8)
$3652, January 11th 2019 (9)
$7245, December 27th 2019 (10)
Average of 1 buy signal per year in the past 9 years. 2 buy signals have occurred in the past 3 years.
Weekly chart - has been flirting with recovery stage of miner capitulation, similar to August 2016:
Signals (2011-2019):
$5.28, December 26th 2011 (1)
$6.35, June 18th 2012 (2)
$23.80, February 4th 2013 (3)
$227, January 26th 2015 (4)
$231, May 25th 2015 (5)
$3533, January 7th 2019 (6)
$7385, December 30th 2019 (7)
Average of 1 buy signal every 18 months in the past 9 years. 2 signals have occurred in the past 3 years.[/center]
Signals (2015-2019):
$234, January 28th 2015 (5)
$234, May 2nd 2015 (6)
$238 May 28th 2015 (7)
$612, September 4th 2016 (8)
$3652, January 11th 2019 (9)
$7245, December 27th 2019 (10)
Average of 1 buy signal per year in the past 9 years. 2 buy signals have occurred in the past 3 years.
Weekly chart - has been flirting with recovery stage of miner capitulation, similar to August 2016:
Signals (2011-2019):
$5.28, December 26th 2011 (1)
$6.35, June 18th 2012 (2)
$23.80, February 4th 2013 (3)
$227, January 26th 2015 (4)
$231, May 25th 2015 (5)
$3533, January 7th 2019 (6)
$7385, December 30th 2019 (7)
Average of 1 buy signal every 18 months in the past 9 years. 2 signals have occurred in the past 3 years.[/center]