Comparing the parabolic rallies, 2017/2019, Part 2
Updated
This fractal is playing out quite well so far. I am going to keep this one short. Here below we can see a zoom in of the ATH and of the current rally. The blue line is something we saw back then. So in case we see a similar movement, i would become more careful.
One very important thing to know of course, back then we had an extreme hype about crypto, this time we don't. Also it feels as if the big players have much more control over the market. So i don't think we will see a 50% drop within a few days, but this is Bitcoin, so can't say i would be surprised to see extreme movement.
Back to reality, as we can see in the zoom in chart, price should not get above the 8700 (maybe 8800) anymore coming days. If this plays out and selling volume slowly increases as well, it could be that a mid-term high is set. Another realistic scenario is the April 2018 rally, showed it in my other analysis as well. Both suggest some consolidation coming days, probably even the whole weekend. So that would give us time to look at everything and figure out which of these 2 might be the best one to follow.
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Previous analysis:
Current Bitcoin analysis:
One very important thing to know of course, back then we had an extreme hype about crypto, this time we don't. Also it feels as if the big players have much more control over the market. So i don't think we will see a 50% drop within a few days, but this is Bitcoin, so can't say i would be surprised to see extreme movement.
Back to reality, as we can see in the zoom in chart, price should not get above the 8700 (maybe 8800) anymore coming days. If this plays out and selling volume slowly increases as well, it could be that a mid-term high is set. Another realistic scenario is the April 2018 rally, showed it in my other analysis as well. Both suggest some consolidation coming days, probably even the whole weekend. So that would give us time to look at everything and figure out which of these 2 might be the best one to follow.
Please don't forget to like if you appreciate this :)
Previous analysis:
Current Bitcoin analysis:
Comment
So far following the footsteps of the ATH fractal, but the April fractal on the right is also still in play. About the April fractal, difficult to say what stage we are in now. Based on the movement, i would say where the blue circle is. Based on price (both drops around 1000/1200 points), the low might have been set already and that we are not in the blue circle now. Fractals are no exact science, but can be nice guidelines as we are seeing so far.
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