This fractal is playing out quite well so far. I am going to keep this one short. Here below we can see a zoom in of the ATH and of the current rally. The blue line is something we saw back then. So in case we see a similar movement, i would become more careful.
One very important thing to know of course, back then we had an extreme hype about crypto, this time we don't. Also it feels as if the big players have much more control over the market. So i don't think we will see a 50% drop within a few days, but this is Bitcoin, so can't say i would be surprised to see extreme movement.
Back to reality, as we can see in the zoom in chart, price should not get above the 8700 (maybe 8800) anymore coming days. If this plays out and selling volume slowly increases as well, it could be that a mid-term high is set. Another realistic scenario is the April 2018 rally, showed it in my other analysis as well. Both suggest some consolidation coming days, probably even the whole weekend. So that would give us time to look at everything and figure out which of these 2 might be the best one to follow.
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So far following the footsteps of the ATH fractal, but the April fractal on the right is also still in play. About the April fractal, difficult to say what stage we are in now. Based on the movement, i would say where the blue circle is. Based on price (both drops around 1000/1200 points), the low might have been set already and that we are not in the blue circle now.
Fractals are no exact science, but can be nice guidelines as we are seeing so far.
Waste of time as usual. Nearly as bad as darkenergy
botje11
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@gainsbeast, You still think so?
UnknownUnicorn2454397
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@botje11, Comparing behaviour in a bear market to a bull market? Yes. Or are you trying to claim that the almost inevitable dip, which price volume/elliot/wyckoff/or simply drawing a rising wedge would demonstrate; was somehow foreseen by your "fractals" even though fractals are only 3-4 candles in length?
UnknownUnicorn2454397
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@botje11, So, yeah.... You finished with your conspiracy theory, don't know what a fractal is, compare bear and bull market nonsense yet? When are you going to stop being a STF social media content source and become a trader?
Martens58
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Wouldn't it be something....to just see this whole rally as nothing more than an extreme Bear
Market rally. I'm not saying it is, but wouldn't that be a kicker and depressing ?
botje11
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@Martens58, Haha, yeah that would be an insane turn of events indeed. Hope it doesn't, it would destroy the little confidence that was left i think among the retail traders
spyxo2x
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@botje11, Well, if they are buying for long term in massive quantities, I doubt they care about the current retail traders. In 10 years, this would be like a blip on the map.
botje11
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@spyxo2x, If Bitcoin becomes the real deal than yes, just a blip. But not convinced of it yet
mmmp12
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@spyxo2x, Lol, nobody is buying massive quantities on exchanges, so this rally isn't certainly caused by so-called 'institutions'.
Maybe they have bought large chunk, but it certainly was OTC. That's retail driven move with catalyst by manipulators, as always.
April?? You mean bear market ?
Waste of time as usual. Nearly as bad as darkenergy