COMPARING 2013/2014 AND 2017/2018 BEAR MARKET
Comparing the 2013/2014 and 2017/2018 Bear market, we see few similarities here. Though the fundamentals looks stronger now, but we see similar price pattern. We may bottom out at 5k on or before Nov/Dec 2018 if the $5800 support fails, especially with the present situation of things in the market.
If the Nov 2018 fundamentals does not lead to a forceful rally, we may see an even lower bottom by Mid Jan 2019 followed by a 6-8 months sideways move till August of 2019 before the uptrend finally begins. Things will happen this way based on the comparison of the 2013/2014 bear market chart which the 2017/2018 bear market chart seems to have perfectly aligned with.
Except the fundamentals take us our of this descending triangle, we may continue downwards till Mid Jan 2019
If the Nov 2018 fundamentals does not lead to a forceful rally, we may see an even lower bottom by Mid Jan 2019 followed by a 6-8 months sideways move till August of 2019 before the uptrend finally begins. Things will happen this way based on the comparison of the 2013/2014 bear market chart which the 2017/2018 bear market chart seems to have perfectly aligned with.
Except the fundamentals take us our of this descending triangle, we may continue downwards till Mid Jan 2019
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.