ckim802

History repeats itself?

KRAKEN:XBTUSD   XBT / USD
Now that it's clear that we are still in the middle of this crash. I wanted to present the prevailing thoughts on the subject in one chart. Unfortunately, the chances of the crash coming to a quick end and finding our way quickly to the upside, only occur if the price were to drop down to the first red dashed line - ~$6800 (The tip of the right shoulder in an Inverse H&S formation). The second red dashed line keeps the falling wedge pattern in play, which has the consequence of pushing the upside breakout timeline back by a few months at least. Were we to drop down to the third red dashed line, we might want to move onto other markets for a few years.
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Close-up of August - November 2018
It's reverting as I type... O.O
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ckim802 Domsax48
@Domsax48, we're probably going to bounce off the top of the triangle...
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