Catch-trades

BTCUSD vs DOT COM BUBBLE

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Okay, I think I will get some criticism for this comparison but anyways I need to share this idea. First of all, I know that the DOT COM BUBBLE was forming much longer then "Bitcoin bubble" therefore I have chosen weekly chart for NASDAQ composite and daily chart for Bitcoin .

If you check the rise and fall of both, the percentages are very similar. Even the pattern looks almost the same. Based on this comparison Bitcoin will most likely rise now around 150% from the last bottom, then fall back to the bottom and start rising with the same/similar structure as the NASDAQ composite .

When this happens and if Bitcoin continues to follow the DOT COM bubble structure (just faster) then we will see more stabile rise than until now, very soon :)

Please, do not take this idea as something that must happen but look at the similarity and think about it your own way.

Comments

These trendlines are memes...2 months back we broke $8800 and everyone started jumping that Downtrend is broken and now going up. took just 1 week to came down crashing. with everyone a new trendline can be redrawn
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@tammy007, thank you for your view. However, I have not seen any broken trendline yet, this is first time after a long time (since this large downtrend started) that I see a broken trendline. For me it is important to see last lower high to be broken :)

Also the ability to re-draw trendlines can be actually your advantage because most of the traders stop trading particular asset just because one breakout did not work out. Sometimes when you re-draw the trendline, the next breakout is successful. So it is just up to you how you trade :)
Reply
BGMind_Control Catch-trades
@Catch-trades, Catch- trades if you go to this persons comment section you will see that he has no life and only comments negativ stuff about other peoples ideas. This person is useless and not worth responding to.
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I agree with this comparison. Accumulate more between 5k-6k...
Reply
Catch-trades miguelborges99
@miguelborges99, I agree but I do not think it will go lower than 5800 anymore. I personally think the last accumulation will be somewhere around 6000-6800. Anyways that’s not so important right now I hope we are both right :)
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miguelborges99 Catch-trades
@Catch-trades, Yep, it will be hard to cross bellow EMA 21.
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Interesting chart. I am half expecting a big fake-out dump later on when everyone is super happy and FOMO is alive again
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@SKG79, Thank you for your idea and I totally agree with you ! That's exactly what happened with the DOT COM bubble when it looked like it was rising and going to the moon, it dumped back to the demand zone. But that's actually good. If the Bitcoin follows the DOT COM bubble structure we will see a steady rise soon (after the dump) :)
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