Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Bitcoin's Sornette Bubble Setup

By Trader Moe ForexJul 18, 2017 10:44AM ET
www.investing.com/analysis/bitcoin%27s-sornette-bubble-setup-200201844
Bitcoin's Sornette Bubble Setup
By Trader Moe   |  Jul 18, 2017 10:44AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Bitcoin/U.S. Dollar
Bitcoin/U.S. Dollar

Bitcoin has had Two Bubble Melt-Ups: Usually Means a Third

Bitcoin has had two vertical melt-ups, one in 2013 and one in 2017. And Didier Sornette has shown that setup usually means there will be a third after a retrace into the area of the first, with the third being the big mama of the three.

Another way to look at Bitcoin is as a big four-year+ megaphone that’s likely to break out upwards after a retrace to VWAP. It’s hard to see on the chart, but the 2013 top took the form of a megaphone with a VWAP around 900. Bitcoin needs a retrace to that VWAP to be legal for a breakout upwards with a target near 6000.

Bitcoin could also bog down in a prolonged sideways move across VWAP. But a huge melt-up is more likely, with this move the biggest and fastest of the three.

Bitcoin's Sornette Bubble Setup
 

Related Articles

Kathy Lien
GBP: What To Expect From BoE By Kathy Lien - May 05, 2021 5

Next to Friday’s non-farm payrolls report, tomorrow’s Bank of England monetary policy announcement is the second most important event of the week. Like the Reserve Bank of...

Blake Morrow
Chart Of The Day: NZD/JPY By Blake Morrow - May 05, 2021

We have identified this wedge setup for the last couple weeks on NZD/JPY, but we are now at that point that the apex of the wedge may see a breakout in the coming session(s). A...

Bitcoin's Sornette Bubble Setup

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email