BTC longs have went parabolic while BTC has been dropping through 2022.
The longs chart is now starting to resemble something like a bubble chart. Just for fun, and as an experiment, here's a forecast of what it would look like if BTC longs were to continue to make a bubble like chart and complete in at the typical reversal areas of at (Or somewhere just over) the 423 fib.
To draw the fibs here we're using a method similar to the ones that picked out the current high in SPX drawing fibs from the previous big range (2000 - 2008 crashes).
The longs chart is now starting to resemble something like a bubble chart. Just for fun, and as an experiment, here's a forecast of what it would look like if BTC longs were to continue to make a bubble like chart and complete in at the typical reversal areas of at (Or somewhere just over) the 423 fib.
To draw the fibs here we're using a method similar to the ones that picked out the current high in SPX drawing fibs from the previous big range (2000 - 2008 crashes).
