Hi!
This TA is based on fractals.
Fractals are similar patterns that tend to repeat.
And what it tells us?
I don't like it, but we are still realising the pattern from 2013-2014 year.
The chart doesn't look good for me because we have repeated so far almost everything.
We have hit the bottom at the same price level and now we are in this double top local pattern.
I've marked it with a circle.
If bitcoin is going to go the same path we may hit ~2,5k USD and recovering may take even 2 years.
I hope it's not going to happen but it's better to be prepared.
So trade with caution and please remember - this information is not a recommendation to start a short position.
It's for educational purposes only.
If you like it hit the thumb button, and don't forget to follow me.
Otherwise you won't receive the notifications when i post an update or idea :)
And share with me your thoughts please.
Thanks!
This TA is based on fractals.
Fractals are similar patterns that tend to repeat.
And what it tells us?
I don't like it, but we are still realising the pattern from 2013-2014 year.
The chart doesn't look good for me because we have repeated so far almost everything.
We have hit the bottom at the same price level and now we are in this double top local pattern.
I've marked it with a circle.
If bitcoin is going to go the same path we may hit ~2,5k USD and recovering may take even 2 years.
I hope it's not going to happen but it's better to be prepared.
So trade with caution and please remember - this information is not a recommendation to start a short position.
It's for educational purposes only.
If you like it hit the thumb button, and don't forget to follow me.
Otherwise you won't receive the notifications when i post an update or idea :)
And share with me your thoughts please.
Thanks!
Comment:
We're still following this pattern. Just a little faster. I'm not saying we will hit 2,5kUSD. Just keep in mind this scenario has happened before.
Comment:
Following as eff ;) But updated the chart with new price/support levels in new topic
