I've seen this chart here already somewhere, but I decided to do one of my own, comparing the fractals a bit more closely.
And also trying to give an estimate at where we currently are, and what would happen if this fractal continues to hold true, the way it did until now.
The similarity is certainly absolutely astounding. But some will now cry out: But these are two entirely different markets on entirely different timeframes!!!!
Yes, true, but mass market psychology always shows itself in different assets, in different timeframes. The rules however remain the same: the human hive-mind.
Well, if indeed this was to repeat, and I don't really know if it will, then we could see prices of around 20k-30k as the intermediary top.
Afterwards, we could see a nice cup&handle style formation building up, and early 2020 BTC would then continue to make even higher highs.
Interesting times indeed! And who knows what will happen, but it is always fascinating to point out these similarities.
On a longer timeframe though, I think that gold and bitcoin will diverge drastically. BTC has some quite different underlying technological mechanisms, after all.
But it seems, that bitcoin is treated still as the digital gold, which shows itself in that neat chart.
So now, if this continues to hold true, we'll pump to 12-13k, then a sharp correction back to 8-9k.
This will lead to all indicators cooling off, before the final pump to the 20k region. Let's see what will happen :)
And also trying to give an estimate at where we currently are, and what would happen if this fractal continues to hold true, the way it did until now.
The similarity is certainly absolutely astounding. But some will now cry out: But these are two entirely different markets on entirely different timeframes!!!!
Yes, true, but mass market psychology always shows itself in different assets, in different timeframes. The rules however remain the same: the human hive-mind.
Well, if indeed this was to repeat, and I don't really know if it will, then we could see prices of around 20k-30k as the intermediary top.
Afterwards, we could see a nice cup&handle style formation building up, and early 2020 BTC would then continue to make even higher highs.
Interesting times indeed! And who knows what will happen, but it is always fascinating to point out these similarities.
On a longer timeframe though, I think that gold and bitcoin will diverge drastically. BTC has some quite different underlying technological mechanisms, after all.
But it seems, that bitcoin is treated still as the digital gold, which shows itself in that neat chart.
So now, if this continues to hold true, we'll pump to 12-13k, then a sharp correction back to 8-9k.
This will lead to all indicators cooling off, before the final pump to the 20k region. Let's see what will happen :)
Comment:
Still perfectly following Gold. If it would continue to do so, and the probability is definitely high, then we'd now see the dump to the upper 8k level. From there we'd get then the final push to ATH and beyond.
Comment:
Interestingly, the gold chart could still happen.
A dump to 9k would be perfectly in line with the gold chart.
Let's see if this fractal will come to pass, or be invalidated soon. Interesting in any case.
A dump to 9k would be perfectly in line with the gold chart.
Let's see if this fractal will come to pass, or be invalidated soon. Interesting in any case.
But so far, as of today, the chart still fits. CRAZY!