BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Just another day starting from scratch and doing some TA on bitcoin . People love to compare the previous bear market with ours today. Since it shows many similarities I decided to do further analysis. What a curve-ball (repeated curve-ball) it'd be if we broke these moving averages and downtrend line to have a huge rally, only to the come cascading back down to new lows. I don't lean towards this happening because we have a more than likely delayed etf announcement coming out this month and we have a weekly consolidation pattern tight and ready for a big break. There is also many new variables in our market compared to back then. ( MC , exchanges, coinbase announcements yes coinbase does a lot for the space, regulated exchanges tbd, etf's, futures , icos, partnerships etc. a lot has changed) For this to happen i would assume we'd need that ETF announcement to be good or maybe coinbase will release a home run announcement aligned with TA to have a perfectly timed bull break and rally.

Personally I think we'll be seeing 4k range here shortly then can start accumulation and recovery
We range sideways around 6k til we reach our historical trend line and have a bowl shaped (slow) recovery.
Capitulation is always an option too.

Not investment advice. Just showing similarities of previous bear market.
Comment removed.
ChaseWallace AlexCoiner
@AlexCoiner, You make money in crypto by front running insutional ordeflow. Pray to thy whales and manipulation. Find their footprints. Short jesus and long whales ;)
+1 Reply
Here's images of the sideways idea and confluence of the juncture we are nearing
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