You guys know I try to bring forth things I don't see my fellow traders posting. So here it is. We can see from the chart that the .786 has a great meaning and has been used in the past. You can observe that both times the .786 has been used as a bounce pad from then forth provided stability until the final crash. I thought this was very interesting from 2014 and placed it up with 2017-2019 and found similarities staring at me! I got super excited when I found this because it allows us to almost handpick the bottom (potentially). I have also posted the same run up from 2016 to 2017 which would place bitcoin at a cool $190,000 per coin, IF history repeats! The 'handpicked' .786 bottom would place us at around $1920-$1820. As we can see from the 2014-2015 this 'bottom' did not last long as we drove a MASSIVE capitulation wick and never saw those levels again! So when and if it comes I will take the chance and dive deep into bitcoin at $1850 as a potential bottom. If you learned this for the first time feel free to leave a like!
I wish you good luck trading!
-Trader Demo
I wish you good luck trading!
-Trader Demo