Bitcoin: Dow's bottoming pattern and possible parabolic rise

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
As you all know Bitcoin dropped ~84% from 20k all the way down to 3k. In the past few months Bitcoin has been painting a bottoming pattern: the failure swing bottom from Dow's theory. I see that absolutely no one talks about this pattern, instead I just see people who talk about an ABC correction that will bring us to new lows, like 2k or even 1k, which in my opinion is not likely.

Also, I want you to notice a possible parabolic trend that is forming right now in Bitcoin . It is simply an acceleration of the upward trend, which doesn't happen since 2017's bull run. It is still at the beginning, so we need to keep an eye on the first two trendlines that formed.

And at last, but not the least, the BBSX index is growing steadily for almost 4 months, which points out a change in sentiment from bearish to bullish and the exhaustion of bears.


You were absolutely right. Good call. =)
+1 Reply
I know nothing about the BBSX index. I see it on your chart. How do I get this?
astroandrea20 Captain_Walker
@Captain_Walker, this is an indicator that I developed on my own. It is useful to analyze the sentiment of the market, if it has been bullish or bearish by using volumes. It will be soon available for use.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out