Part 1 Bitcoin from 2011 - 2013 Increase from $0.44 - $31.86 Total retrace down 95% (below 786 fib) to a price of $2.01 Correction length (all-time high to break old all-time high): 634 days
Part 2 Bitcoin from 2013 - 2017 Increase from $63.33 - $1181.69 Total retrace down 91% (below 786 fib) to a price of $169.58 Correction length (all-time high to break old all-time high): 1245 days
Part 3 Bitcoin from 2017 - 2018 Increase from $1838.54 - $19775.25 77% retrace complete thus far. Impulse incomplete. Waiting for 786 fib break Correction length: TBD
BTC Update : Every few years we see a massive run-up in Bitcoin. After this we see a significant drawdown for months - years. Almost 95% retrace in pricing sometimes. Can we find a pattern this time around that may give us an idea of the length of the market drawdown and the severity in % and $ value. If we were to look at Part 1 and Part 2 we may be able to deduce a similar movement in Part 3. We first have to see if 786 fib breaks. If it does break we will have a prolonged bear market with further downside and move into the zone listed.
I hope you are wrong. There is way more interest these days in Crypto, this could help us stay above 786 but I get how BTC like to repeat itself. Thx for charts always interested to take a look.