Fly the sky for a clearer perspective
just now
I think people forget (myself included) to back out to the DAILY time frame once in a while, in order to gain a better perspective of where we're at right now. BTC has had an amazing run to $14,000 without a real solid correction, so I would not be surprised to see a 30-40% correction before the next leg.
Take a look and you'll see 30-40% retracements are very common on the way up.
Bearish retracements in 2017
37%
35%
41%
40% (smaller than previous)
30% (smaller than previous)
Bullish retracements in 2018
67% (dec 2017)
103%
55% (smaller than previous)
50% (smaller than previous)
27% (smaller than previous)
Bearish retracements in 2019
23%
17% (smaller than previous)
BTC is doing great. We just need to stop for refueling.
I think people forget (myself included) to back out to the DAILY time frame once in a while, in order to gain a better perspective of where we're at right now. BTC has had an amazing run to $14,000 without a real solid correction, so I would not be surprised to see a 30-40% correction before the next leg.
Take a look and you'll see 30-40% retracements are very common on the way up.
Bearish retracements in 2017
37%
35%
41%
40% (smaller than previous)
30% (smaller than previous)
Bullish retracements in 2018
67% (dec 2017)
103%
55% (smaller than previous)
50% (smaller than previous)
27% (smaller than previous)
Bearish retracements in 2019
23%
17% (smaller than previous)
BTC is doing great. We just need to stop for refueling.
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