What you are seeing here is a bitcoin fractal between September 2017 and now. It's not a perfect fractal, but the overall movement is very close.
The trendline in blue is the same for both charts. I'm cautiously optimistic that bitcoin might bounce off support. I'm fully aware that if we cross below support then we might have a bear continuation for months to come. I'm not a bulltard. I'm leaning bullish 52-48.
Reasons for a bullish reversal:
+ Still above the trend + This fractal :D + We are nearing the apex of key support and resistance
Reasons for a bearish continuation:
- 50 EMA is nearing a cross below 200EMA. - We are dangerously close to support - Still in a downtrend
Comentário
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Short term update on bitcoin:
Comentário
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We need the trend line to be strong for the next 6-12hrs. So far so good.
I think you're pointing at the JOES-fractal (but not the whole one)
For details look at my JOES-fractal analysis.
We've just finished big-fractal-3 within the giant fractal.
It resembles 2014!
Check it out. This will be the same for ETH and all other altcoins!
Happy trading with this knowledge!
CivilisedWolf
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I'm with you on this :-)
davec83
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@VincentBoudewijn, I would like to believe too! :D
MeroviusCapital
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Q3/Q4 2017 were a raging bull market. 2018 is a raging bear market.
davec83
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@MeroviusCapital, could be, I'm not a perma-bull, so I don't deny that we might go into an extended bear market for 2018. If it happens I don't think it will last as long as the bear market of 2014.
supestv
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Nice correlation!
davec83
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@alexyeoh, :D
JackieHuynh
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I always like your posts. So this post should become true
For details look at my JOES-fractal analysis.
We've just finished big-fractal-3 within the giant fractal.
It resembles 2014!
Check it out. This will be the same for ETH and all other altcoins!
Happy trading with this knowledge!