The purpose of the chart is to illustrate how price forms in fractals; and how exponential parabolic bubble curves, usually decline a Fibonacci 78.6% of value when they burst.
This happens on all time scales whether hours, days, weeks, months, years or decades.
Here is a blind test with price and time scales removed. It illustrates how the same patterns occur on very different price and timescales.
Two charts ended in a speculator crash losing 80% in value, and one isn't done yet.
Can you tell which is Bitcoin, and which is Nasdaq, and which is a random stock called Pulte Group ?:
i.imgur.com/eBplUQW.jpg
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
This happens on all time scales whether hours, days, weeks, months, years or decades.
Here is a blind test with price and time scales removed. It illustrates how the same patterns occur on very different price and timescales.
Two charts ended in a speculator crash losing 80% in value, and one isn't done yet.
Can you tell which is Bitcoin, and which is Nasdaq, and which is a random stock called Pulte Group ?:
i.imgur.com/eBplUQW.jpg