BTC/USD - HISTORY REPEATS ITSELF - THE BIG PICTURE
Updated
Hello, traders! Today, we are looking at Bitcoin.
Everyones has one similar question on the brain: WHEN WILL BITCOIN CRASH!?
After analyzing the big correction for bitcoin in 2014, while keeping the parabolic curve in mind, price has made a huge correction at 4.618 when using the Fibonacci Retracement tool. This first measurement starts at tip of the wick in the peak of the parabolic curve and ends at the bottom wick at the lowest point of the correction.
The corrections in the past have retraced to the 0.886, measured from the bottom of the parabolic curve to the tip of the new parabolic curve (further predicted from the 4.618 measurement).
If history is the repeat itself, by the end of the year Bitcoin will be due for the MAJOR correction peaking at the price level of $4700 USD.
Everyones has one similar question on the brain: WHEN WILL BITCOIN CRASH!?
After analyzing the big correction for bitcoin in 2014, while keeping the parabolic curve in mind, price has made a huge correction at 4.618 when using the Fibonacci Retracement tool. This first measurement starts at tip of the wick in the peak of the parabolic curve and ends at the bottom wick at the lowest point of the correction.
The corrections in the past have retraced to the 0.886, measured from the bottom of the parabolic curve to the tip of the new parabolic curve (further predicted from the 4.618 measurement).
If history is the repeat itself, by the end of the year Bitcoin will be due for the MAJOR correction peaking at the price level of $4700 USD.
Note
After the minor correction I predicted in past weeks, BTC is making its way up the reversal point I have calculated. If you are currently invested in BTC, I suggest you remain very cautious with price hitting this level.
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