Anatomy of a Bear Market: June 2016 Bear Market, H4
In the Anatomy of a Bear Market Series I compare different Bitcoin Bear markets using Ichimoku and S/R: June 2016 on H4 was a bear market that looks similar to the current June 2018 bear market
2016 bear market's structure:
- both flat cloud tops and bottoms, thick cloud => mixed market
- deep S1 and shallow S2 supports
- no major S2 => somewhat bearish like in 2014
- steep trend line angle => likely an up trend, like in 2013
- large S3 dip enough for a bullish continuation.
- key S1-S2 trend support is broken after bouncing down from the cloud
This H4 market structure is similar to the 2014 Bear Market and the 2018 Bear Market.
Fib is plotted from the prev ATL
Scroll chart left-right for other examples
Conclusions:
- This bearish triangle pattern is very common, it starts immediately after bull run ends with EMAs fanning sideways or down (not all up).
- It's almost always the battle of 2 triangles: asc S1-S2 vs dsc R1-R2
- In June 2018 we will likely bounce down, break the key trend line support and have a major S3 bearish sell-off at the end
2016 bear market's structure:
- both flat cloud tops and bottoms, thick cloud => mixed market
- deep S1 and shallow S2 supports
- no major S2 => somewhat bearish like in 2014
- steep trend line angle => likely an up trend, like in 2013
- large S3 dip enough for a bullish continuation.
- key S1-S2 trend support is broken after bouncing down from the cloud
This H4 market structure is similar to the 2014 Bear Market and the 2018 Bear Market.
Fib is plotted from the prev ATL
Scroll chart left-right for other examples
Conclusions:
- This bearish triangle pattern is very common, it starts immediately after bull run ends with EMAs fanning sideways or down (not all up).
- It's almost always the battle of 2 triangles: asc S1-S2 vs dsc R1-R2
- In June 2018 we will likely bounce down, break the key trend line support and have a major S3 bearish sell-off at the end