Bearish scenario on upper portion of chart, bullish scenario on lower portion This is a logarithmic chart for BLX, Brave New Coin Liquid Index which can be read about here: bravenewcoin.com/api/bitcoin-liquid-index/
Bearish scenario: BTC continues drive towards long term orange trendline, finally bottoming out around $3,000 before slow steady increase over $10,000 in 2019 followed by bullish explosion in 2020/2021 with targets exceeding $300,000
Bullish scenario: 2018 has been a bear trap $20,000 to $6,000, and previous high ($20,000) was a bump before a run to 300% increase to $60,000, followed by retrace to the orange long term trend line
White verticals: halving (estimated) Blue verticals: Fibonacci time sequence Orange trend: long term log trendline Green wave: sine line
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in terms of the bullish scenario, the drop in 2013 was around 75%, in 2018 a similar drop would take BTC to ~$5,000