Bitcoin 2012: Descending triangle breakdown to measured target of -20%. Price consolidated in a tight range between $4.21 to $5.30 after disbelief rally. 7 years later, Bitcoin 2019: Descending triangle with measured breakdown target of -32%. Repeating 2012 suggests a consolidation between $6,415 to $9,420 for 1 year.
The time frames are very different, however the emphasis here is on a BTCUSD descending triangle at the top of a disbelief rally from the bottom of the bear market after a 250% (3.5x) rise. The measured move back then was -20% that Bitcoin achieved. The -32% breakdown target after a 340% (4.4x) doesn't seem unreasonable.
Credit to KaliCrypto for the inspiration:
If Bitcoin Repeats History?
Part 1: Descending Triangle Looking Similar To 2018
Part 2: Measuring The Move of the Descending Triangle Breakdown
Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low
Nota
Part 5: If 2017 Descending Triangle Repeats? Best Case Scenario
Nota
This idea is also playing out so far, as is Part 2.
Nota
Part 6: If Bitcoin Repeats History? Monthly TD Sequential Red 1
Nota
Part 7: Another Bearish Indicator: 200 EMA & MA Bearcross
Nota
Part 8: Bitcoin's Full Moon Reversal 6 Month Pattern
Nota
Part 9: TD Sequential 9 Next Week To Decide Direction?
Nota
Part 10: Extrapolating the 50 & 200 Day MA bear crosses
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.