Ofckgvn

Now will history repeat itself?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
If it did then we have found the bottom.
We highly doubt it. In that bear market the correction of the first impulse up didn't fall under the 0.65 level and since then, every correction of an impulse up until 20k didn't break the 0.65. This time it fell to the 0.786 retracement level which decreases the chances of creating a higher pivot and increases the chances of creating a lower low (<3121). Furthermore, analyzing the movement on the monthly chart, it is clear that each bull and bear market took longer to develop than the previous one. According to our analysis, this bear market could end in Aug 2019.
+2 Reply
It's missing the big volume spike
+2 Reply
@hubavka, back then there weren't so many exchanges and bitstamp was one of the most important..now things have change so it's highly unlikely to see such high volume again on bitstamp.
+4 Reply
yes i have studied this extensively and the similarities are so striking but nothing is certain yet until we go above the 200day MA and initiate the repositioning of the 50 100 and 200 MA in their rightful places(golden cross)
+1 Reply
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