Possible BTC scenario could be BEARISH? Something EVERYONE missed!
Hey everyone! long time no see!
Just want to share a possible scenario using history and fractals to help pave the way.
on the top we have BTC from our current pricing data ( at time of press)
on the bottom we have a historical chart that shows a deep correction, a multi year correction after BTC hit the price of around ($1,800 - $1,200) back in December of 2013
Now this is the full correction from January 2014 - early January 2017 where we see BTC break previous 2013 highs and rise to almost 20K in the same year!
notice the descending triangle that had a breakout on both charts... after the breakout we see it completed a YELLOW ABC on the bottom chart... could BTC be doing the same?
If so, then we could be looking at a long long correction. maybe another 1-2 year sideways movement as we seen in the past.
BUT, maybe things have changed and maybe the demand along with the maturity in the crypto universe has changed. its not new anymore. theres more people holding for the future and may not be willing to sell. keeping the prices from repeating the past.
This is just a possible option and to keep everyone aware. I suppose the critical point would be when prices rise a little more and hit the new Yellow C wave.. Which could be near the (D) in orange just as it was in the past.
We are not liable for any reason for profits or losses
please make your own decisions
oh cool you are back bro ?!
not really lol :( im pretty busy with life now. I had a lot of free time before
Many, many people have been making this comparison even since January. Yes, the charts so far look nearly identical, but 2014 was the year of the Mt. Gox collapse, which is exactly what caused this bear market. This theory can be fully discredited based on the fundamentals of the day. BTC is far more mature now than it was then.
i Agee with you, plus bitcoin is battle test. And it’ll continue to defeat all FUDs.
I haven't seen anyone make this comparison?
most people are bullish I would say on BTC and the ones that arent, I havent seen talks about the chart fractals of the 2013 - 2014 fall... but yes, I agree from a fundamental standpoint its no longer possible to keep it down for the long.
thanks for the comment!
Either bitcoin dies or the earth dies.
That's just hyperbole
I guess your right.
I doubt but with the consensus today might fly, follow me ;) I like your posts
good!
I believe we will see a strong bearish move over the short term, reaching as low as 6k potentially before the market regains strength and Bitcoin begins its run back to the 10k region!
subscribe, and yes that is a good article, i agree for sure
U follow me pl
We should what we can
Great article! Keep to get latest updates.
oh you understand the analysis. I think that the BTC will go up and everyone will get a good cache