FlaviusTodorius67

BTC doing the old plateaus again. Be prepared for brutal boredom

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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!
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 :)
Gold patter is not yet invalidated. I follow that fractal very closely.
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@MaxL82, Hi, do you have a chart somewhere where I could see that? You might be right that there is still a chance remaining for the gold pattern. Of course in BTC we can never rule something out with 100%. I just see the chances for the gold pattern, thus new ATHs this year, declining week by week.
+1 Reply
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