Bitcoin repeating 2017 structure
"Each ticker is victim of his own history"
Trading its all about looking for patterns, that repeat itself over and over, but each stock each crypto have their OWN patterns, is not like you will find each head and shoulders or Fibonacci point and all they will react similar on all symbols...
In wall street i like to see news pre-market, and if they pumped (or dumped) before at the open because similar news, that gives me better odds and a bias at the market open.
The Bitcoin structure is VERY similar to 2017 ones, a accumulation or flag, then a channel, then a rising wedge with a lot of divergences, everyone thinks that will breakdown and a nice parabolic, that in 2017 went to 6k to 18k.
now, the rising wedge is very narrow only 30% wide, things are happening too fast, that's also common on repeating patterns, they repeat on a minor grade scale at least 3 times. this would be the second, in 2017 they were 550 days from the accumulation to the top of the parabolic at 19k, now we are at 210 days and the structure is almost done.
i don't think that the parabolic would last more than 10 days, in 2017 was from 6 to 18k but were different market conditions altcoin season, now things are in minor scale, i think a 50%-75% pump from 9k to 13-15k and the parabolic will be done, last time the retracement were at .78 of Fibonacci from 19k to 3k, i think from 13-15k we could reach 4-5k after the correction, maybe same big triangle pattern or it does something else.
only 2 days ago the parabolic has started, but we are very near the target of 13-15k to be long (too risky), but we could wait the first BIG RED CANDLE after the end of parabolic to short on pops and wait the correction because the cycle is near to complete. on 2018 it dropped very fast from 19k to 10k so this could happen again.
Trading its all about looking for patterns, that repeat itself over and over, but each stock each crypto have their OWN patterns, is not like you will find each head and shoulders or Fibonacci point and all they will react similar on all symbols...
In wall street i like to see news pre-market, and if they pumped (or dumped) before at the open because similar news, that gives me better odds and a bias at the market open.
The Bitcoin structure is VERY similar to 2017 ones, a accumulation or flag, then a channel, then a rising wedge with a lot of divergences, everyone thinks that will breakdown and a nice parabolic, that in 2017 went to 6k to 18k.
now, the rising wedge is very narrow only 30% wide, things are happening too fast, that's also common on repeating patterns, they repeat on a minor grade scale at least 3 times. this would be the second, in 2017 they were 550 days from the accumulation to the top of the parabolic at 19k, now we are at 210 days and the structure is almost done.
i don't think that the parabolic would last more than 10 days, in 2017 was from 6 to 18k but were different market conditions altcoin season, now things are in minor scale, i think a 50%-75% pump from 9k to 13-15k and the parabolic will be done, last time the retracement were at .78 of Fibonacci from 19k to 3k, i think from 13-15k we could reach 4-5k after the correction, maybe same big triangle pattern or it does something else.
only 2 days ago the parabolic has started, but we are very near the target of 13-15k to be long (too risky), but we could wait the first BIG RED CANDLE after the end of parabolic to short on pops and wait the correction because the cycle is near to complete. on 2018 it dropped very fast from 19k to 10k so this could happen again.
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