MilkBread
Long

BITCOIN! IS IT RLY THE WAY(ve goodbye) TO THE FUTURE???

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hey guys! I’m really excited about this TA, so let’s jump in! >>>

So I've been obsessed with double tops, I keep seeing them everywhere! which got me thinking... fractals, golden ratios, nature and crowd psychology.

Looking with fresh eyes at this big wedge and down channel everyone's been drawing made me realise something. If the down channel is going to push the price out below the wedge and carry us to lows of 4k, 3k, then why did the double top create such an irrelevant resistance, since we haven’t broken the 7k support yet?! Bcz its really a failed inverse H&S? No!

I realised the double top already broke the down channel , hence creating that zone of resistance, which we’ll see stays true in the long game…
Once you treat the DT as the start of a new channel, you see the wave pattern that forms as a fractal . The second down channel is masked by the first and its been fooling everyone.

This wave trend fractals in threes - from big to small, which is reinforced by the distance between the support and resistance at the start of the next bull run being roughly 66% retracement (if we consider the whole wedge fractal to be trending up on the support) of the bull run of the first descending wedge .

Are we really seeing BTC 1.49% 1.77% 1.81% stabilise at (what’s that??) 10X THE RATE such volatility in other markets would take? Let’s hope so.

Let’s all take a deep breath and appreciate one more thing. I feel like its a sign that the reversal begins after the 2nd Quarter takeoff, where all the FUD after the bubble popped begins to lose steam in the media and all the ICOs (who’re keeping on target) begin to release PAs that will gain all the traction needed to feed the press another narrative, and a next wave of amateur investors jump back on board the gravy train.


Thanks for entertaining this idea guys <3

Love and peace and happy trading.

Disclaimer:
I am not a market analyst and the ideas shared here have little to no experience to back it up.

Please tell us what you think and share your ideas in the comment section below.
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