You can see the ghost pattern of 2014 crash in light blue. It is compressed 25% but nevertheless represents a good idea how this years crash can continue.
The upwards channel seems strong and I think we can go as high as 12k usd.
More n more money is coming into this market! At some point. I see a little correction at 10200ish, I believe 5k is gone for a long time maybe for ever!
Now I’m not saying we can’t bounce between 6k n 10k through out the year but 2k -5k is not going to happen especially if we hit 11-12k btc!
christophercolumbus
⋅
Yes, I am seeing the same thing... a bull trap... looking for 5K in a few months...
kayamemet
⋅
@christophercolumbus, yeah, I think we need to go through the despair phase and some consistent stable price before we can say it is over. we will wait and see.
christophercolumbus
⋅
@kayamemet, definitely. Good to see some sensible analysis.
christophercolumbus
⋅
@kayamemet, The only difference I have is a 5K bottom [maybe quick spike to 4.5]. 25% of the spike as per last time... or full 0.78 fib retracement form the take off point.
kayamemet
⋅
@christophercolumbus, I am less keen on exact technical analysis. there is always the fundamental part such as regulations or new technologies. So the variance is still high. My only guess is that like you said, this is a bull trap.
Now I’m not saying we can’t bounce between 6k n 10k through out the year but 2k -5k is not going to happen especially if we hit 11-12k btc!