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CASHLESSSOCYS
Jun 19, 2021 9:22 PM

BTC Death Cross... IS THIS THE END!? 

BITFINEX:BTCUSD1D
Bitcoin / DollarBitfinex

Description

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Personally speaking, I'm not panicking about the imminent death cross for BTC.

Every time I look at the current price action for BTC, I immediately see the same top that was put in, in 2019.

The RSI as well as the bar patterns seem almost identical.

Volume has followed a very similar path as well.

With that being said, BTC seemed to be recovering in early 2020 before the epic market crash seen around the world.

Also, up to this point BTC has been very repetitive as far as its halvings compared to its peaks.

We have had 2 halvings followed by 2 market cycle peaks in the following December.

There's not enough evidence in the charts in my opinion to say that anything different will happen, until it happens.

As I've shown in my chart, I believe we could have consolidation until September, and then 1 more parabolic move to end the year.

- CAHLESS
Trend AnalysisChart PatternsTechnical IndicatorsBTCBTCUSDBTCUSDTbtcusdlongbtcusdshortCryptocurrencyhalving2020blockchain
Comments
Korastiz
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I was noticing the similarity to this area too. Additionally, the drop after Nov 18, 2018ish at about 5600 was another area I thought this could be similar to if we are in Wave-C.
CASHLESSSOCYS
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@Korastiz 1 yeah just 1 possible path we might take. that's what I personally believe is most likely but we will see.
Korastiz
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@CASHLESSSOCYS, Seems reasonable to me really
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