The comparisons to 2013-2015 bear market have been made ever since the dec-feb collapse and while premature, lining up pitchfork slopes & yearly avg gives the fractal even more accuracy. And the price & RSI we're trading at now is key.
The driving factors for the collapse (bear market) throughout 2013-2015 were far more serious than anything now and although the fractals may signal a similar pattern lower post yearly average break, the driving fundamentals may not be present. Mt.gox bankruptcy and silk road closure annihilated the demand for bitcoin, and unless a top 5 exchange is successfully toppled that demand will not be evaporated.
The driving factors for the collapse (bear market) throughout 2013-2015 were far more serious than anything now and although the fractals may signal a similar pattern lower post yearly average break, the driving fundamentals may not be present. Mt.gox bankruptcy and silk road closure annihilated the demand for bitcoin, and unless a top 5 exchange is successfully toppled that demand will not be evaporated.
Note
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.