Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Globb0
on 30/01/2020, 11:30:53 UTC

https://www.tradingview.com/chart/BTCUSD/JSP3KDmy-New-long-term-prediction-as-I-see-it-now/


This is well worth pursuing.  But I don't think Tradingview has the right tools for it. Masterluc just glommed a couple of vague swoopy curved lines on the chart.  Yet we can do much better.

I went to bitcoincharts(dot)com to download the price history for Mt Gox and Bitstamp, and concatenated them in a LibreOffice Calc spreadsheet for a continuous price history going back to 2010.
Then I ran iterated quadratic regressions.  The parabola has a horizontal axis of course, which means treating time as a function of price.  Once you get the quadratic, easy enough to solve it, giving a conventional graph with price as a function of time.
results here

https://hardworkandlowpay.wordpress.com/charts/

After deriving the parabola for the line of support (red on the chart), I found that by shifting that curve 45 months in time, it just touched the last two big blow-off tops; you can see this line in green on the chart.  The two parabolas are essentially identical, sharing the same axis and focal length.  The nested parabolas never intersect.