Here is why I think a bitcoin winter is ahead:
If you draw support (orange) & resistance (red) lines from the peak of the 2017 bull run, they eventually cross, when this happens a new support (orange) & resistance (yellow) are drawn, these cross as well, which leads to a sharp fall, (Green & light green) the first green candlestick in the fall sparks the bitcoin winter (teal, purple & dark blue), purple & teal are the main support & resistance for the winter.
When those lines crossed, the price shot up to ~$14000. Now we're experiencing part of this pattern, and it has been right so far.
Zoom in on the 2017 bull run,
Now zoom in on the 2019 bull run and it looks pretty similar.
Please don't make a trade based solely on this idea, do your own research as I am not a certified investment advisor.
If you draw support (orange) & resistance (red) lines from the peak of the 2017 bull run, they eventually cross, when this happens a new support (orange) & resistance (yellow) are drawn, these cross as well, which leads to a sharp fall, (Green & light green) the first green candlestick in the fall sparks the bitcoin winter (teal, purple & dark blue), purple & teal are the main support & resistance for the winter.
When those lines crossed, the price shot up to ~$14000. Now we're experiencing part of this pattern, and it has been right so far.
Zoom in on the 2017 bull run,
Now zoom in on the 2019 bull run and it looks pretty similar.
Please don't make a trade based solely on this idea, do your own research as I am not a certified investment advisor.
Comment:
If you agree, or don't agree, tell me why in the comments!