Same pattern same result? I guess we're about to find out.
Good luck and hedge your bets!
Comment:
If we break the repeating structure, anything goes. Complex correction. On the other hand, if we linger sideways shorts could carry some risk very short term.
Given the recent hype around Bitcoin, I can understand the bullish movement in the latest fib box, as there is a fundamental need for Bitcoin. Banks have basically deprecated themselves, banning entire countries and discriminating against their citizens' financial transactions. Censorship like a dagger in the back of the populus. No expensive PR complain necessary, Bitcoin advertises itself.
So I can see it either way:
Short hand, people are strapped for cash, expecting price to go lower is not irrational. But I tend to skew this very bearish scenario towards the short term (1-3 months).
On the other hand, we're due for some big buying sooner or later, so I can also see the bullish/sideways complex correction view, but tend to skew medium to long term on this (3-12+ months).
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Given the recent hype around Bitcoin, I can understand the bullish movement in the latest fib box, as there is a fundamental need for Bitcoin. Banks have basically deprecated themselves, banning entire countries and discriminating against their citizens' financial transactions. Censorship like a dagger in the back of the populus. No expensive PR complain necessary, Bitcoin advertises itself.
So I can see it either way:
Short hand, people are strapped for cash, expecting price to go lower is not irrational. But I tend to skew this very bearish scenario towards the short term (1-3 months).
On the other hand, we're due for some big buying sooner or later, so I can also see the bullish/sideways complex correction view, but tend to skew medium to long term on this (3-12+ months).