BTC doing the old plateaus again. Be prepared for brutal boredom
So it seems that BTC is not doing the gold chart fractal. It is now almost certainly ivalidated.
Instead, it does what it always liked to do best: Long plateaus after a small pre-rally.
This rally from 3k to 14k was really similar to the one in mid 2012, and the one in late 2015/early 2016.
And every time after such runups, btc like to relax for a long while.
For a time I was fooled by BTCs aggressiveness, but now it looks as if BTC behaves again as it used to.
That's the good ol' BTC I used to know from back in the day, hehe!
Of course, for active traders that's a nightmare, but I fortunately just keep accumulating, so BTC can for all I care, do this game for a long while.
Now, we see that BTC is comfortable resting on the long exponential support line from back in 2015. That is a 4 year old support line! BTC busted through it, and now it became support again. Amazing!
This is somewhat based on CryptoBullets idea, so I want to give him a shoutout here, for noticing that indeed we now rest on this very old support line. And judgin from the looks of it, BTC will rest there for quite a while, doing the
old plateau game. So now, first Plateau 1, then Plateau 2. Exactly like back in the day:
So anyways, this is just my current view, which can of course change again, should BTC do some surprising stuff.
Great luck to all!
Instead, it does what it always liked to do best: Long plateaus after a small pre-rally.
This rally from 3k to 14k was really similar to the one in mid 2012, and the one in late 2015/early 2016.
And every time after such runups, btc like to relax for a long while.
For a time I was fooled by BTCs aggressiveness, but now it looks as if BTC behaves again as it used to.
That's the good ol' BTC I used to know from back in the day, hehe!
Of course, for active traders that's a nightmare, but I fortunately just keep accumulating, so BTC can for all I care, do this game for a long while.
Now, we see that BTC is comfortable resting on the long exponential support line from back in 2015. That is a 4 year old support line! BTC busted through it, and now it became support again. Amazing!
This is somewhat based on CryptoBullets idea, so I want to give him a shoutout here, for noticing that indeed we now rest on this very old support line. And judgin from the looks of it, BTC will rest there for quite a while, doing the
old plateau game. So now, first Plateau 1, then Plateau 2. Exactly like back in the day:
So anyways, this is just my current view, which can of course change again, should BTC do some surprising stuff.
Great luck to all!
Comment:
Yep, the old plateaus. Brutal boredom, as predicted. This will still go on until November-December until the weekly BBands will become very narrow, then the pumps will continue. Classic BTC behavior :)