Feb 6k low overlapped chart, working good so far!
Price action from Feb 6k low onward is overlapped. I scaled it down both in time and price. This implies that market is weaker compared to that time. Also, we are in a different stage of the market. The first stage started Nov 13 2017 and ended March 30th. Followed by a transitional/reversal symmetrical triangle. See this idea for more details:
It is very likely that we see a totally unique price action from now on.
FYI: I am not a pro chartist. Quite new to this market. Posting ideas to get feedback.
Bear in mind that BTC might deviate from the pattern at any time. So trade with caution and don't follow the pattern blindly.
Per our magical chart, we should drop one more time. I closed my short position from 8.4k and opened a small long position. Per each 1% drop, I will double the position as far down as 7650.
Please like if you like the chart. It worked so far and I think that is enough for getting a like.
I did not expect the chart to work this far.
Hope it was useful when it was alive.
This is just my 2 cents. Don't trade based on it.
I think most people are confused with the current price action. This is totally expected. Bitcoin has entered a new stage after the last weeks symmetrical triangle. As I explained earlier, this price action will be very unique. It's an uncharted territory for BTC since it's ATH. We are close to a very important resistance down trend line. Read my last TA about possible upcoming scenarios.