filbfilb

BITCOIN: 2017 v 2019: What happens if we break $6k

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
There is some similarity between 2017 and 2019 in the way in which we bottomed from $5k->3k 2017 and broke back to $5k.

It took a lot longer this time in a bear market.

Overlay & Extrapolate that trend and Dec 2019 could be fruity if we can get over the Tether risk (which is significant at this point and i am very cautious about being long until there is more information)

This is more of an observation than a forecast but the resistance levels illustrated do make sense as you can see.

If we break 6k i would be bought into this idea having some chance of comming to fruition due to the strength of the fomo in this market.
Comment: I will state the obvious as the people in the comments seem unable to work it out:

The right hand 2019 chart is running 4x slower than the left hand chart, so comments pointing out how it will take more time than 2017 show inability to read the chart.

Ill also argue another reasons why it could happen like this if thether doesnt destroy the market:

- The uptrend shown is around the same length as the down trend.
- The halvening hype
- FOMO
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Comments

There is a large difference between a bottom reversal and a phase 3 parabolic move up. This is a bottom reversal with lots of resistance history above. The 2017 chart was a blue sky breakout. This is NOT going to happen.
+6 Reply
filbfilb V567HX8
@V567HX8, ok buddy i love it when people come at me with absolute statements. 10/10 lose.
+1 Reply
@V567HX8, Hahaha, go on, tell us more, oh great oracle.
Reply
This is not how trading works
+6 Reply
MidnightOne TheCryptAlpha
@TheCryptAlpha, Absolutely!
Reply
filbfilb TheCryptAlpha
Reply
good analysis.
this remind me at begin of crash most people say bitcoin will never go at 3k, btc will not break 6k, 50k in end 2018.
now people saying we will never see new ATH btc and btc will keep crashing.
market cycle is always same.
+6 Reply
Although nobody knows if and when we break $6k and what will happen after that, at the moment I assume a more pessimistic scenario. Something like
+3 Reply
Nothing happen if BTC break $6000!
+3 Reply
filbfilb AIMORAN
@AIMORAN, reeeeeeely
Reply
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