History repeats itself. We have many similarities to the Bitcoin chart in 2014, as shown in the picture. The difference now is the timeaxis. There are always the same proportions when charts are developing. Fibonacci describes it in his textbook, this is the hint for every one who wants to know more about that.
So, my idea is, that the upmove is just temporary. As sown in the picture with the number 2. I expect one more wave down, to point 3. After that, we have a complete correction-wave C! At this point, it is a BUY for me. To all the fomo´s, don´t go NOW into the market. There are much better opportunities, with cheaper prices.
Maybe I am wrong with my analysis, but if we break up now, it will be clearly shown in the picture. Don´t be worry to miss something. After a breakout to the upside, we will also get nice opportunities to go into the market. But not now! And what everybody has to learn, charting is a hunt. You have to learn, to wait for the best opportunities. Remeber, it is better not to be into the market, as to buy too much for an asset.
So let´s see what will happen...
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We are still at point 2 forming douple top. If price breaks above the resistance marked red on daily, we will have more potential to the upside.
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next big down move forwards
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If we break the trendline of the falling wedge to the downside, we will speed up! In case we break the upside, we will see a correction pattern.