Bitcoin 2015-2017 vs 2019 Weekly Fib Pullbacks

We can see that in 2015-2017 each significant pullback on the weekly chart reach at least the .5 fib level and most of the time all the way to the .618 fib level. Out of approximately 6 out of 8 times it reached all the way down to the .618 fib. For those curious even scrolling back to 2011-2013 (scroll left to see) you can see we hit .618 minimum and occasionally .786 levels.

As of mid July 2019 (scroll / fast forward right to see) we have peaked at $13.8K (for now). If that was the top before a more significant pullback on the weekly then the .5 to .618 fib retracement levels would put us in the low/mid $7,000 to high $9,000 price range. That also has confluence with some notable horizontal support areas.

If we don't pull back more significantly from this general area then we will out do the entire 2015-2017 bull market in terms of continuation and percentage gains. Percentage wise I believe we have already exceeded even the Dec 2017 All Time High (ATH) blow off gains during this run.

Perhaps there is an argument for the single week retrace in the $8,000K range but that only reached the .286 fib (not shown) and was too brief to be considered a proper correction IMO. But time will tell...

Comment:

Admittedly crypto is unpredictable and $BTC can do wild things so it's possible we could see continuation from here, but I think at this moment that probability is lower than extended sideways and/or further correction.

See this Tweet thread for what these bigger corrections often look like in smaller timeframes. twitter.com/CryptoCa.../1146840731874496512

Comment:

Played out perfectly!