2018 Q4 Did We Make It To The Launchpad?
Updated
Comparing the previous ATH in 2013/14 to now on the Weekly chart...
There are some similarities in the up/down patterns, but we seem a bit higher at the moment without the big death drop and long recovery. So does this mean we are progressing and don't need such a long recovery period or does it mean we are going to see some near term jumps UP followed by stronger selling action pushing us closer to the -84% fall we have seen in the past?
The Ichimoku Cloud looks very thin just above where we are at now. I there is a big run up it would need to be a true launch vertical and take us through it. Otherwise the power of the DOWN cloud is going to serve as resistance and push us several more months to the right and possibly lower.
There are some similarities in the up/down patterns, but we seem a bit higher at the moment without the big death drop and long recovery. So does this mean we are progressing and don't need such a long recovery period or does it mean we are going to see some near term jumps UP followed by stronger selling action pushing us closer to the -84% fall we have seen in the past?
The Ichimoku Cloud looks very thin just above where we are at now. I there is a big run up it would need to be a true launch vertical and take us through it. Otherwise the power of the DOWN cloud is going to serve as resistance and push us several more months to the right and possibly lower.
Note
More and more I am thinking my 'Are We Here?' note is pretty much on point. I think we will see a big move up to a new local high where people will FOMO in. This WON'T be the MOON you are looking for, but could easily offer +30-40% gains in a few weeks.Note
Well no launchpad huh? This definitve price move has helped give us more direction as to where Bitcoin will be headed in the coming weeks though. It also allows me to see how comparing price movements to 2015 compares.... I think we are back to the meta of falling deep and Bitcoin having to die before launching out of the flames once again.Note
If you are looking at BUYing coin, as in SPOT buying then I believe there will be some incredible opportunities in the next week or two. If we are still mimicking the same up/down price movements of the past then we are nearing a final bottom and there could be some quick stabs down on the 1H or 4H charts.Set some low BUY orders and if they hit, know that you bought some coin at prices everyone wished they had gotten a year ago before we launched to 20k.
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