The technicals are lining up within the charts to revisit a historical range. In the last week of May, first few weeks of June 2017, the pair traded between these levels for five weeks before breaking up. Looking for a retest of these range for a few weeks. A negative break down (around the time of the next Fed rate hike?) will send the pair to around 1.0825
I think we are going to bounce back from here. History is going to repeat again.
The bottom is, in my humble opinion, is not in. Looking back at the price action of BTCUSD in early 2014 we can take a look inside the most recent long term bear market and use that as a reference for our current bear market in bitcoin. Bitcoin and crypto has seen a massive influx of new investors and frankly what we in the space refer to as 'dumb money'. They...
As you can see in the picture, the current situation has already happened in the past and on 02/08/2012. Dear friends, the current status of Bitcoin is not a new situation. Although the eight-month depression flag has been broken, and although this is a very important event. An important issue is the breakdown of the 6800's resistance.
Similar price action, and RVGI has similarly turned up. Well... let's see
UPDATE based on last post: Using the 2013 to 2015 time-frame extrapolated into this wave's similar but shorter span, we should re-touch the previous all-time-high (approximately 19,500) by end of August or early September 2018. (Again, this is ONLY if history repeats itself) Recall from my last post: We keep seeing mirror images of the 2014 bear market playing...
We keep seeing mirror images of the 2014 bear market playing out now. But what if (just if) it has indeed played out, but a bit differently from the common mirror images we've seen? As in this? *I know it's a long shot, but never know! (Isn't all TA long shot?) *As you can see from my recent days' posts, I have both bull and bear scenarios, this is just a...
The graphs show the cumulative percentage growth rate over the past five years for BTC relative to the S&P 500 , Nasdaq 100 , Dow 300 , Nikkei 225 , DAX and FTSE 100 indices (top left). The remaining panels, from left to right and top to bottom, show the annual growth rate from mid-2013 to mid-2014; mid-2014 to mid-2015; mid-2016 to mid-2017; mid-2017 to...
As you can see on the chart, the RSI bearish divergence that we see today is basically identical to the one we saw in 2014 right before the crash. Another important point of comparison is that right at this point, in 2014, BTC hit the 200MA and turned around... exactly like it did yesterday. Also, if you look around at the alt coins and try this same excercise,...
In this video, I review some evidence available to everybody. I spot some behaviour patterns of Bitcoin over the years. The evidence to date is that it refuses to die - at each stage when people shouted "Crash!" or "Tulip!". I'm not saying that Bitcoin will not die. That's none of my business as a trader. My business is to assess evidence, see patterns and...
HI I just take a another look to BTC historical data.take look to chart that made for you. In 2013 when we start first big uptrend,it's take 11 month to make our first big ATH and started FIRST BEARISH MARKET at late days of 2013. We ended that bear market in 651 days.finally on 2015.9.14 we started new uptrend that ended in our ATH in late days of 2017 and we...
Second BTC scenario based on history charts)
This probably won't be a fast drop at all. More like falling down the stairs... We might pause a couple of times thinking we have stopped, only to continue to snowball down. The FUD with Binance helped exacerbate what was already on the charts and forced this down action today. Looking at fractals from 2014 it is hard to decide if the #1 and #2 are matching up or...
XRPBTC I just thought this was pretty cool to look back on.
Having a quick look at the weekly to re-plot some fibs and this jumped out at me. Not sure why i hadn't paid attention before... could history be repeating itself?? Let me know what you think??
So I'm just gonna point out some previous resistance levels from the climb up to the ATH that are now serving as resistance on the way down. Levels #1, #2 and #3 provided some resistance on the way up while Levels #4 and #5 did so as well but were merely bumps in the road. On the trend down we've revisited the #5 and #4 levels and seem to have a clear path,...
While the block areas are not exactly the same they are pretty close in how price action has played out. Should we be expecting price action to continue it downward momentum to previous lows before seeing a move toward new all time highs? Just a thought not a prediction!