Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

He Posted this chart around 2 weeks ago and compared it to 2nd leg of 2013 run. I asked him why the first dot of this 2nd leg 2021 is red already while in 2013 it started yellowish orange. He blocked me wtf lol. I did not meant to be mean. Was a serious question since I am no charts and data guy.

He's an interesting guy to listen to but I am still not convinced BTC follows a certain price model.

What does bitcoin do then, Bbunny?

Would you prefer to just say that there is no pattern?

Sure we may well get deviation from whatever past pattern has been assessed or even a breakage of the pattern or a breakage of the model that might cause a need for another model, but are we going to fly blindly and say that none of the previous pattern matters in terms of attempting to assess where we were, where we are at and where we might be going - even if we end up being wrong about it - once the future becomes history?

Personally I think this rainbow chart is pretty decent. There is a big chunk of margin of error in that chart that only gets bigger the higher up we go which seems realistic but it possibly helps indicate at which price BTC is a good investment.
https://www.blockchaincenter.net/bitcoin-rainbow-chart/

It would be great if Plan B is right. But I just wonder how much the money printing & pandemic helped him to be right for the last 18 months which he may not have been otherwise.