BTC/USD has been again rallying within the context of a well-defined parabolic curve (on the log-scale chart given the extreme % moves). The curve could continue to hold for some time, or it could soon fold – either way it may be the best price action guide we can follow right now.
Parabolic curves are of course an unusual occurrence in the marketplace (although they seem commonplace today!) – they only occur when things begin to bubble up. Eventually they break (and in a big way), but until they do, crazy can become crazier. The idea is to use the line as support – hold and the trend continues, break and the likelihood we are in for at least a nasty correction increases significantly.
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