AfterlifeTrading

Bitcoin Eerie Similarities with Feb 12/13 Dump (Part II)

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BITSTAMP:BTCUSD   Bitcoin
Since my first post, the resemblance becomes increasingly similar. The PA is making the exact same moves as the previous dump.
As some of you thought it was interesting, I cleaned the chart up and made it a little more presentable.

We are currently on a small run up from the TD9 dump. Which is attracting moonboys calling for reversal. If this fractal continues, then prepare yourself for a significant dump (up to 22%) very soon.

Similarities up to now:
  • Fake bull run on low volume
  • Similar PA before and after TD9 (Plus Godmode indicating downward pressure the day of TD9)
  • Drop after the TD9 was closely aligned (11% vs 12%)
  • Fakeout with 30% recovery from the TD9 drop which was shortly brought back down with a push further down which also recovered back to 6.7k zone

Just a note, I don't believe in any way that we will see a dump below 3k. I am just charting the similarities as they come to me. But it would make an extremely strong case for the bulls if we could dump to lower lows and create some meaningful bullish RSI divergence to reverse this trend and trigger the halving run to the moon.
Comment:
I can't stop seeing the similarities.

Comment:
If you look at the previous uptrend, it retraces to support levels all along the way. Until it doesn't anymore. This happened around Feb 17th around the 50% fib level.

The same thing happened on this uptrend and my feeling we are at the peak and just about ready to see a big dump. It has broken below the support level and struggling at the 50% fib level again.

Comment:
Take a look at the structure of the white boxes in the updated chart. The timeframe may be off a little but structure is very similar. Could today or tomorrow be the day?


NQ Trader
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