Following the correction from 2014 and following the same pattern every step of the way since. Market works in cycles, no matter how much you say BTC is different is isn't. These markets work on emotions, and going to 3k will destroy many peoples beliefs and make people really think Bitcoin is dead. This will also be a 80% correction likewise from 2014. You say there is no MT Gox like 2014? Well markets still work in cycles and we have had a lot of FUD at the top. Wall street got their 2x from 6k -12k then another 40% correction from 12k to here so they are making money. Only got RSI on here as an indicator, no need for Elliot waves or some shit. Just Support and Resistance and herd mentality.
I could be wrong, we could consolidate here but I think that would be too easy for everyone.
What's with your box at 3k? You pick the middle of the apex for the first 2 boxes and the peak for the 3rd box? Looks like you're trying to make the data fit your opinion >.>
therealrunner
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@faedicus, Lol i thought something looked funny, it should be in the middle too. Not trying to use any data to fit my opinion, was using the data to make an opinion, I was simply just drawing reversal zones from previous highs. I believe we will bounce a bit higher than I illustrated, but i cannot change it now.