So here's another interesting fib fractal to follow on with
Check out the chart above. And then check out the 2014 chart below. You can see that, while not perfect, the July-Dec rally is roughly following the fib retracements of the 2013 rally/2014 crash, with some very similar chart patterns mixed in. The good news is that we appear to be completing this retracement at a MUCH FASTER pace than in 2014. Also, the fundamentals for crypto in general are MUCH SUPERIOR than in 2014, where the implosion of a major exchange caused massive, prolonged liquidity issues. I would really be surprised if we fell much below .786 BUT YOU NEVER KNOW!!!! Either way, the .786 could be a strong entry point.
Nice analysis, man! I agree the similarities with 2014 are undeniable. Typical bubble mania blow off phase with a final capitulation possibly taking us past .786.
UnknownUnicorn2190767
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@mackerel1589, yeah it's definitely possible. If this fractal is accurate, it appears this crash is playing out at about 3x the speed of 2014, so an entry at the .786 even if drops lower, may only be underwater for 3-6 months (if the past is an indicator of the future). I really do think the fundamentals in the market are completely different from 2014 - there are large crypto based blockchain platforms on the cusp of enterprise adoption, consumer awareness is way higher, and there are some promising signs of consumer adoption. Also, there is a much clearer regulatory environment. I am personally going to reenter at the .786, and then build my position incrementally if it drops further below.