Check the attached image (fifthperson.com), this is a possibility of how this BTC crash could continue, followed by a consolidation (capitulation) period.
As always Bitcoin could discredit this, however, it has followed this market cycle cheat sheet very closely thus far.
I am bearish for now.
Check the attached image, this is a possibility of how this BTC crash could continue, followed by a consolidation (capitulation) period.
As always Bitcoin could discredit this, however, it has followed this market cycle cheat sheet very closely thus far.
I am bearish for now.
ETH broke previous USD all time high last week but has been declining in BTC value as Bitcoin makes a big run up to $10k.
The previous cycle retested 24% from the local high.
If the Head & Shoulders completes, it will be a good place to buy back in for the next leg up on Ethereum.
How I'm playing it:
Waiting for a retest in BTC price down to the fib level to...
Compared to the last cycle, we can see very similar moves playing out.
The "cup and handle" without the handle, went straight into a massive pump last cycle.
This is also one of the few large caps that has yet to pump (BTC like normal, ETH is starting, BCH, DASH, LTC, ETC, IOTA).
Its /BTC price is severely oversold, and /USD price is begging for a new ATH.
This...
