BitcoinUpdated 2014 and 2018: Similarities and Differences
So finally more of the pundits are starting to recognize that this correction is akin to 2014. Though similar, there are some differences...
1] As the spike was less, the correction is shorter
2] Closer to the multi-year base-line [300% per annum]
3] Much steeper correction
Other significant factors:
1] Retracement form the peak is to the 0.78 Fib level, to roughly 25% of the peak price
2] The death cross, representing a long period down and sideways.. though only six months for 2018
3] The new spike begins when the previous ATH is recovered.
I'd add that this is a working model I take it to be provisionally true until price developments falsify it. At the moment, price developments have only served to corroborate it.
1] As the spike was less, the correction is shorter
2] Closer to the multi-year base-line [300% per annum]
3] Much steeper correction
Other significant factors:
1] Retracement form the peak is to the 0.78 Fib level, to roughly 25% of the peak price
2] The death cross, representing a long period down and sideways.. though only six months for 2018
3] The new spike begins when the previous ATH is recovered.
I'd add that this is a working model I take it to be provisionally true until price developments falsify it. At the moment, price developments have only served to corroborate it.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.