That's the same type of correction we had in 2018 from 19500 to 6k. So we've got a really low risk opportunity for short here.
Here I try to compare 2014 LTCUSD correction structure with what BItcoin has now. This suggests that we should have another move down to 2k. I believe that behaviour of cryptomarket is cyclic and every cycle has its clear signs. Still can't see any signs of real capitulation that I mentioned in my very first idea. Let's see what Bitcoin prepared for us.
Crypto charts are full of patterns but look at this. Litecoin tries to tell us that we've reached our bottom? If you look closer Litecoin repeats Bitcoin 2010-2014 price movement. Just compare 10-14 Bitcoin chart with available LTCUSD one. I used to successfully utilize LTC as a secondary indicator to understand where we are in a current Bitcoin cycle and forgot...
So we are close to finish our bear nightmare. It's going to happen in 1-3 months in case we won't get any structure deviations. Thus bitcoin suggests us many ways of future price movement but I would like to consider this one. That's one of the most frequent ways of pullback after such bearish a-b-c corrections. It usually comes with some triangle crap and then it...
BITSTAMP:BTCUSD As a bitcoin trader with experience of more than 6 years I remember many corrections and bottoms. During such events I was scrolling through many sites to understand market sentiment and almost everytime bottom was coming I got a feeling inside myself that something big happens and that we're getting to T-junction where we will be close to...