BitcoinUpdated BTC USD Fractal comparing 2019 to 2021
BTC Moves everything, as we (yet again) saw 2 days ago.
I've been comparing to 2019 for almost 6 weeks now, and to my surprise, this huge bump up happened this past weekend.
I've denoted two places (marked 1 and 2) in 2019. (2019.1 and 2019.2 respectively), in which the fractal seems to be forming.
I believe based on the MACD repetition that we are in 2019.1 timeframe, and the fractal is a double timeframe fractal.
You could also argume that we're in 2019.2 because it more closely aligns with the timeframe of the fractal.
2019.2 looks scarier (or a nice buying opportunity).
See for yourself, and let me know what you think. It will be interesting to see where things lead.
Obviously not trading advise, just an observation. I hope this ages well.
I've been comparing to 2019 for almost 6 weeks now, and to my surprise, this huge bump up happened this past weekend.
I've denoted two places (marked 1 and 2) in 2019. (2019.1 and 2019.2 respectively), in which the fractal seems to be forming.
I believe based on the MACD repetition that we are in 2019.1 timeframe, and the fractal is a double timeframe fractal.
You could also argume that we're in 2019.2 because it more closely aligns with the timeframe of the fractal.
2019.2 looks scarier (or a nice buying opportunity).
See for yourself, and let me know what you think. It will be interesting to see where things lead.
Obviously not trading advise, just an observation. I hope this ages well.
Note
Based on the correction that happened between 8/1-8/6, I'm now convinced we're setting up for 2019.2I'm not convinced we're at the top yet based on Fisher. We'll have a pullback (my rough guess is a few days from now for about 7-14 days (depends on how much fomo and fear is around), and then another leg up.
MACD and Fisher both don't look topped out enough to have an extreme downturn (yet).
This is my opinion, and not financial or trading advice.
Trade active
I opened a short position at 50kI just see too much coincidence with 2019.2
I'll create an updated post to refer to this one with updated (and more indepth) analysis in the next day or so.
To say the least, this I'm excited to see the direction we're headed.
Note
All I need to say is "Wheeeee" the drop as of this post is -7.8% for BTCTrade closed manually
Taking profits on short. Left some to ride the potential larger dropNote
Took more profits at 40k. What a wild ride today. I'm now playing with house money. SL at 44.2k to finish out the play.
Complete close of short position target at 33.5k
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