After the recent double top, we are in a sandwich between the daily 21 and the 55, does that ringing any bells after a major bubble?
I do recognise a possible pattern here... keep in mind that 2017 was way larger and slower in pace than Bitcoins latest development. But if we follow it - and adjust to volume and speed - we still would fall towards the daily 100 maybe towards the 50% retracement around 8.5k this time?
If so we would see a similar bounce back to the 21 or 55 daily before the next major drop down.
A lot of ifs here yes... and also alot of chances are arising! Check my view on the 2017 bubble aftermath in the link below.
I do recognise a possible pattern here... keep in mind that 2017 was way larger and slower in pace than Bitcoins latest development. But if we follow it - and adjust to volume and speed - we still would fall towards the daily 100 maybe towards the 50% retracement around 8.5k this time?
If so we would see a similar bounce back to the 21 or 55 daily before the next major drop down.
A lot of ifs here yes... and also alot of chances are arising! Check my view on the 2017 bubble aftermath in the link below.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.