Bitcoin - 2018 vs 2022
Updated
- I know that bullish analysis on Bitcoin is extremely unpopular at this moment. I can feel it in the comment section of my several previous Bitcoin analysis.
- The most popular ideas on TradingView are extremely bearish, and the sentiment is very negative and fearful.
- Pretty much everyone is expecting 13k. In this case, I am not saying the crowd is wrong, because during a fifth impulse wave, the crowd might often be right.
- The situation is, of course, very different this time compared to 2018, but I have seen a lot of these comparison analyses on Bitcoin, so let's do it.
- The triangle in 2022 is really weird. It's probably not even a triangle. It looks like an inverse head and shoulders with a steep neckline or a double bottom reversal pattern.
- Triangles usually appear just before the end of the trend or at the end of the trend. These patterns are, of course, very tricky.
- There is a possibility of a last scam wick to the downside to 17,600-17,900 before the price explodes to the upside! But I hope the bulls will defend 17611 USDT because it's very important from the Elliott Wave perspective.
- I hope the bulls will prevent Bitcoin from falling because I don't want a 5-year bear market, I think no one wants it in the crypto community.
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Note
October and November are extremely bullish months!
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