Yesterday D4rkEnergY showed you a comparison between the price movements in 2014 and 2018, which had some scary similarities! To follow up on these charts, I decided to make some calculations and used some Elliott waves combined with Fibonacchi levels to see, how Bitcoin would move if we would continue to follow the 2014 path.
On the charts we are looking at right now, I have zoomed in to take a closer look at the current action. Both charts show, that we came down via a bear flag, had a smaller correction to the upside and then the double bottom (red circle).
After that we went trough the downtrend channel with a massive spike with huge volume.
I've calculated the increase in price, and counted the Elliott Waves and used the before mentioned Fibonacci levels on the 2014 and applied it to the 2018 chart to see, where we might be heading.
Last but not least! I want to stress, that this is not, what I necessarily think is going to happen. I am for now - still bearish - and I think we will go lower, BUT I'am still SUPER BULLISH on Bitcoin in the long run. And I am convinced we will see a new All Time High before 2019.!
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As always. Thank you to all for following me, and all the positive feedback I'm getting. Please give this chart a LIKE. Thanks in advance, my friends :)
Isnt it a mental disease to talk about yourself in third person?
Dreath69
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bs bs bs bs bs this is not 2014
betgain
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@Dreath69, and? Historic recurrence, Big loop theory, Statistical studies of cycles... Easy to dismiss with just a "bs" and nothing more to back it up.
In 2014 only 100 people knew about it but 2018 totally different scenario large corporation, businesses, governments and billions of people know about it.
ShaunPickett
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You seem to be presenting your ideas with a new attitude. I like this D4rk Energy more. You appear to be more humble now and theres less garbage in your posts.
c3tr4
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There's a serious problem with retracing against 4 years ago, the entire market mindset has shifted. Fear of regulation and most hacks are in the past. Banks, Institutional money etc. will enter the market. I wouldn't base any TA on what happened years ago much anymore, the dynamic has flipped far too much. This is what happens when people are too focused on retracing and drawing TA but have no psychological training or understanding of peopple's mindsets/momentum and trends.
Some fundamental TA works but this just further proves it's just throwing darts with crypto. The days of 6500 are gone, if you missed it you missed it.
tusco92
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@c3tr4,it's not kid money we're speaking about, Billions do you think whales will put more billions and take the risk to be divided by two, because indicators and Ta, IT'S FINANCE ! ...LMFAO no way ;) Kids are not building finance .
Finance is building finance like you said we are not 4 years ago and now it's hunderd billions.. they can make money on both ways catch fish on the way up on the way down , so what's the best ratio do you prefer to do x10 or x5 imagine you can make the both happen , what you will do ... i know x10.