BTCUSD: If Bitcoin Repeats History? Extrapolating 2012 Breakdown

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
Bitcoin 2012: Descending triangle breakdown to measured target of -20%. Price consolidated in a tight range between $4.21 to $5.30 after disbelief rally. 7 years later, Bitcoin 2019: Descending triangle with measured breakdown target of -32%. Repeating 2012 suggests a consolidation between $6,415 to $9,420 for 1 year.

The time frames are very different, however the emphasis here is on a BTCUSD descending triangle at the top of a disbelief rally from the bottom of the bear market after a 250% (3.5x) rise. The measured move back then was -20% that Bitcoin achieved. The -32% breakdown target after a 340% (4.4x) doesn't seem unreasonable.

Credit to KaliCrypto for the inspiration:

If Bitcoin Repeats History?

Part 1: Descending Triangle Looking Similar To 2018

Part 2: Measuring The Move of the Descending Triangle Breakdown

Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low

Sep 17
Comment: Part 5: If 2017 Descending Triangle Repeats? Best Case Scenario

Sep 25
Comment: This idea is also playing out so far, as is Part 2.
Sep 28
Comment: Part 6: If Bitcoin Repeats History? Monthly TD Sequential Red 1

Oct 09
Comment: Part 7: Another Bearish Indicator: 200 EMA & MA Bearcross

Oct 13
Comment: Part 8: Bitcoin's Full Moon Reversal 6 Month Pattern

Oct 21
Comment: Part 9: TD Sequential 9 Next Week To Decide Direction?

Oct 27
Comment: Part 10: Extrapolating the 50 & 200 Day MA bear crosses

Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out