BTC 2018 vs BTC 2014
As you can see both charts show a descending triangle formation which isn't necessarily bearish. First they made a triangle with a very steep descending resistance line.
Then after they broke the resistance they formed a flatter resistance line.
In both cases they touched or nearly touched the support 3 times.
Whereas in 2014 BTC broke down at the 3rd touch and in 2018 it went up.
I divided both charts into five fractals till the break down.
The fractals Red, Orange and Yellow are really similar when it comes to the structure but not when it comes to time.
The fractals Brown and Green show no similarities at all to me. The reason for that is in 2014 BTC made a very clear regular ABC-Correction and today we had a double ABC-Correction.
Which means after we did the first Correction in February BTC wasn't ready to begin a new cycle, so we saw a failed impulse wave(X) and then BTC made another ABC-Corection.
Although the market would need another 100 days to come to the point we had in 2014. BTC today dropped much faster -70% and most fractals also took less time due to different market conditions today
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