Bitcoin daily pitchfork fractal
Updated
The comparisons to 2013-2015 bear market have been made ever since the dec-feb collapse and while premature, lining up pitchfork slopes & yearly avg gives the fractal even more accuracy. And the price & RSI we're trading at now is key.
The driving factors for the collapse (bear market) throughout 2013-2015 were far more serious than anything now and although the fractals may signal a similar pattern lower post yearly average break, the driving fundamentals may not be present. Mt.gox bankruptcy and silk road closure annihilated the demand for bitcoin, and unless a top 5 exchange is successfully toppled that demand will not be evaporated.
The driving factors for the collapse (bear market) throughout 2013-2015 were far more serious than anything now and although the fractals may signal a similar pattern lower post yearly average break, the driving fundamentals may not be present. Mt.gox bankruptcy and silk road closure annihilated the demand for bitcoin, and unless a top 5 exchange is successfully toppled that demand will not be evaporated.
Note
Note
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