BTC Trend Analysis
I identified a pattern repetition between the current situation and the market behaviour from February 18th to February 27th.
The market showed a downtrend in the mentioned period, divided in the following steps:
1) it started with a steep decrease in value of approximately 10%, bringing BTC value from 10300 USD to 9400 USD in one day;
2) then the value rose back to 10000 USD, meaning a 7% growth, in 4 days;
3) in the last stage there was a fall back, with BTC value dropping to 8600 USD in 3 days, a 14% decrease.
In the current scenario, we saw a drop in the value from 8200 USD on March 10th to 4800 USD on March 13th (~ 50% decrease), followed by a recover to 6500 USD by March 21st (~ 40% increase). The development appears to be more extended over time, since the duration of each stage is being approximately doubled.
If the trend would be consistent with the previous one and the percentages would be proportionate, this last increase could be followed by a decrease of approximately 70% in BTC value, leading to a drop close to 3000 USD in the next weeks.
What do you think?
The market showed a downtrend in the mentioned period, divided in the following steps:
1) it started with a steep decrease in value of approximately 10%, bringing BTC value from 10300 USD to 9400 USD in one day;
2) then the value rose back to 10000 USD, meaning a 7% growth, in 4 days;
3) in the last stage there was a fall back, with BTC value dropping to 8600 USD in 3 days, a 14% decrease.
In the current scenario, we saw a drop in the value from 8200 USD on March 10th to 4800 USD on March 13th (~ 50% decrease), followed by a recover to 6500 USD by March 21st (~ 40% increase). The development appears to be more extended over time, since the duration of each stage is being approximately doubled.
If the trend would be consistent with the previous one and the percentages would be proportionate, this last increase could be followed by a decrease of approximately 70% in BTC value, leading to a drop close to 3000 USD in the next weeks.
What do you think?
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