This is a chart of the Natural Log of the YOY Running ROI of BTCUSD/SPX:
Ln
The pattern formed is striking in that the tops and bottoms both form perfectly linear patterns going back to the creation of Bitcoin.
Using the same steep slope this indicator had at the end of the last 2 cycles indicates a value of -2.07 at the end of this cycle, if the pattern holds perfectly.
Assuming the SPX stays constant at 3,900, Bitcoin would need to drop to $6,883.69 for the value to equal -2.07.
Alternatively, if Bitcoin were to remain constant at $17,000, the SPX would need to raise to $9,631.56.
TLDR: FOR THIS PATTERN TO CONTINUE, BTCUSD WOULD NEED TO BOTTOM AT $6,883 (GIVEN A CONSTANT VALUE FOR THE SPX)
Ln
The pattern formed is striking in that the tops and bottoms both form perfectly linear patterns going back to the creation of Bitcoin.
Using the same steep slope this indicator had at the end of the last 2 cycles indicates a value of -2.07 at the end of this cycle, if the pattern holds perfectly.
Assuming the SPX stays constant at 3,900, Bitcoin would need to drop to $6,883.69 for the value to equal -2.07.
Alternatively, if Bitcoin were to remain constant at $17,000, the SPX would need to raise to $9,631.56.
TLDR: FOR THIS PATTERN TO CONTINUE, BTCUSD WOULD NEED TO BOTTOM AT $6,883 (GIVEN A CONSTANT VALUE FOR THE SPX)