In December 2018 masterluc wrote on his PentarhUdi trandingview account that bitcoin was
" leaving straight-style log trend while continue to grow in SQRT-style trend"
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.
" leaving straight-style log trend while continue to grow in SQRT-style trend"
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.
I think the most relevant point is that the prediction has been very accurate (so far), regardless of the tools he used to make this TA. Sometimes the best analysis are the vague squiggly lines and random arrows pointing up and down - if the price follows that path that this. Kudos to PentarhUdi for getting things right so far, I haven't seen another publication that has been this accurate (regarding the lows, the highs, with the correct time-frame).
My only criticism is that they should of used smaller arrows to draw the lines
