Bitcoin will repeat the history !!! (? ? ?)
Hey fellas
Look at this chart! doesn't look familiar for you?
I had a TA about comparing BTC and NDX market crash before which you can find it here (
). But this time i want to zoom in and take a closer look. This is part of NDX (2000) crash. we are in 2018 and NDX made an ATH again in 2016. So there is no argument that BTC will reach and pass its ATH anyway; BUT in the current situation our big question is " WHERE IS THE BOTTOM ??? "
If i want to be honest with you, In my opinion we didn't reach there yet. I chose this specific part of chart for you to compare it with another chart of BTC in below. lets see we can find a solution or not!
look at the every single LH and LL that BTC made in previous 3 months and compare it with Nasdaq.
As you know technical analysis is based on three assumptions:
1-The market discounts everything.
2-Price moves in trends.
3-History tends to repeat itself.
Why we are saying history can repeat itself? because people's psychological moves can be same in similar situations and in financial markets we had so many bubbles like Tulip mania and bubble dot com and so on. As you know most of bubbles making similar patterns too. BTC's last year move was like one of those patterns and every body were talking about it. now we all know the bubble is bursting, So if you are worried about your investment i want to tell you there is nothing to worry about but if you want to protect your capital you should find a good point to reenter the market. The best place for reenter to market is where we don't see the downside movements anymore.
With all that said my vote is for going down until we see a good volume and good buying pressure in the market where the big money and smart money comes in.
Be warned this is my personal idea and i will monitor the market every day and wait for the results.
Peace <3
Look at this chart! doesn't look familiar for you?
I had a TA about comparing BTC and NDX market crash before which you can find it here (
If i want to be honest with you, In my opinion we didn't reach there yet. I chose this specific part of chart for you to compare it with another chart of BTC in below. lets see we can find a solution or not!
look at the every single LH and LL that BTC made in previous 3 months and compare it with Nasdaq.
As you know technical analysis is based on three assumptions:
1-The market discounts everything.
2-Price moves in trends.
3-History tends to repeat itself.
Why we are saying history can repeat itself? because people's psychological moves can be same in similar situations and in financial markets we had so many bubbles like Tulip mania and bubble dot com and so on. As you know most of bubbles making similar patterns too. BTC's last year move was like one of those patterns and every body were talking about it. now we all know the bubble is bursting, So if you are worried about your investment i want to tell you there is nothing to worry about but if you want to protect your capital you should find a good point to reenter the market. The best place for reenter to market is where we don't see the downside movements anymore.
With all that said my vote is for going down until we see a good volume and good buying pressure in the market where the big money and smart money comes in.
Be warned this is my personal idea and i will monitor the market every day and wait for the results.
Peace <3
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