$BTC comparison with 2013 and 2017 before parabolic move
Nov '13 top broke out in Feb '17 (39 months) 15X returns
Dec '17 top broke out in Dec '20 (36 months) ??X Returns
In 2013 and 2017, when Bitcoin broke new ATH, it retraced back to the immediate swing high before the start of the parabolic move.
In Dec '20, we are currently past ATH and there is too much optimism too fast at the moment.
In my opinion, Bitcoin will be relatively flat for the next few weeks before another parabolic move.
If we do follow the same pattern of retracing back to the swing high(purple), 17k will be a great dip buy opportunity. In other words, #BTFD
Lots of new HODLers getting into bitcoin and are yet to be tested.
Dec '17 top broke out in Dec '20 (36 months) ??X Returns
In 2013 and 2017, when Bitcoin broke new ATH, it retraced back to the immediate swing high before the start of the parabolic move.
In Dec '20, we are currently past ATH and there is too much optimism too fast at the moment.
In my opinion, Bitcoin will be relatively flat for the next few weeks before another parabolic move.
If we do follow the same pattern of retracing back to the swing high(purple), 17k will be a great dip buy opportunity. In other words, #BTFD
Lots of new HODLers getting into bitcoin and are yet to be tested.
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