The daily bars of the 2018 descending triangle are starting to match the current 2019 descending triangle. If the bearish breakdown also repeats itself in the same way, then this would be the outcome, continuing on from where the charts fit together. Notice how a similar bearish breakdown would take us to the 200 Week MA, given its current trajectory. This would be long-term bullish if this happened, ie finding support again one year later $2K higher. I'd therefore find it unlikely to return to a bear market, or even continued consolidation (which would both be under the 200 Week MA).
Note
Part 2: Measuring The Move of the Descending Triangle Breakdown
Note
Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low
Note
Part 4: f Bitcoin Repeats History? Extrapolating 2012 Breakdown
Note
Part 5: If 2017 Descending Triangle Repeats? Best Case Scenario
Note
Summary from Part 5:If Bitcoin Repeats History?
2012: Breakdown to $6,415 with 1 year consolidation (Part 4)
2014: Breakdown to $2,500 with 1.5 years consolidation (Part 3)
2017: Breakdown to $5,350 with 2 months consolidation (Part 2)
2018: Breakdown to $5,050 with 6 months consolidation (Part 1)
2019: Measured move to $6,410 to $6,875 (Part 2 & 5)
That's a range between $2,500 and $6,875, with anywhere between 2-18 months of consolidation. Conclusion: Anything could happen. Look for clues.
Note
Part 6: If Bitcoin Repeats History? Monthly TD Sequential Red 1
Note
Part 7: Another Bearish Indicator: 200 EMA & MA Bearcross
Note
Part 8: Bitcoin's Full Moon Reversal 6 Month Pattern
Note
Part 9: TD Sequential 9 Next Week To Decide Direction?
Note
Part 10: Extrapolating the 50 & 200 Day MA bear crosses
Note
This first chart from two months has aged well then.
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.
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.