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
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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