~Bitcoin macro cycles~
2013 bear market highlights:
87% pullback from peak ($1,162 - $152)
Took roughly 400 days to bottom out
Price found support right above .88 Fib level
2018 bear market prediction:
If we assume correlation between historical
price action and future price action,
BTC will find its bottom at between $2,500-$2,700 in mid January of 2019
This scenario would satisfy all three conditions of previous BTC bottoms
1) 87% selloff ($20,000 to $2,600)
2) 400 days from highest high to lowest low
3) Price bouncing right above the .88 Fib level
Give a like and a follow if you found this TA interesting and would like to see more of my content. I will be doing more charting like this going into 2019 and beyond. Cheers!
___________________________
*This is not investment advice*
2013 bear market highlights:
87% pullback from peak ($1,162 - $152)
Took roughly 400 days to bottom out
Price found support right above .88 Fib level
2018 bear market prediction:
If we assume correlation between historical
price action and future price action,
BTC will find its bottom at between $2,500-$2,700 in mid January of 2019
This scenario would satisfy all three conditions of previous BTC bottoms
1) 87% selloff ($20,000 to $2,600)
2) 400 days from highest high to lowest low
3) Price bouncing right above the .88 Fib level
Give a like and a follow if you found this TA interesting and would like to see more of my content. I will be doing more charting like this going into 2019 and beyond. Cheers!
___________________________
*This is not investment advice*