Will History Repeat itself for BTC?Will Bitcoin follow the same trading pattern as in 2014 before a massive bull market?
You decide.
2014bitcoin
Taking a closer look on this long term possible bullish outlookA few days back i've posted a possible mid-term bearish scenario that left many traders doubtful and i understand their point. This time with more in debt analysis i present you my more bullish scenario for the future of blockchain technology. This is only part 1. Enjoy ;)
I'm back! with a historical Bitcoin chartHello, friends and fellow traders!
Long time no use this platform, though I never stopped trading. I was there when the crypto market saw the top, didn't sell until March 2018, but enough of my personal history--let's see Bitcoin's price history, as what happened in the past provides us with the only way to get a grasp of the present. Here are the previous market extremes:
$30 in June 2011, followed by 93% loss till $2,
$1.1k in December 2013, followed by 86% loss till $160,
$20k in December 2017, subsequent downtrend ongoing.
There are other oft-cited "major" tops and bottoms but the above three are the only significant historical determinative turning points. Now, the fact that the $20k-top is the third one is frightening if one believes in Elliott Wave theory, because it'd mean that the ongoing downtrend will continue to devastate. However, we won't make any such comment before analyzing what happened in the period seen in the chart, which spans the second big rally.
As you see, most of the stuff happens in one monthly candle, which is halted at around a grand per coin. The ollowing retracement is so deep and long, whose ending formation (the double bottom at $160) took 8 months to complete. The double bottom didn't break until November 2018, but when it broke, it broke decisively, and formed a very healthy basis for the bull run. Today we are still far above these levels, and most importantly above those two important lines:
1) the top at $1.1k
2) the trend line formed after the 2014 bottom.
These observations will give us the necessary insight for analyzing what is happening today, and where we are headed to.
I hope to continue the analysis with more recent price action, please follow & like to get me motivated <3
Will 2014 and 2017 repeat again?Will 2014 and 2017 repeat again? We had 2 big bubbles on the monthly Bollingerbands, they give you the signal to sell, next time watch this and if that happens again sell all your coins.
Bitcoin comparison 2014 / 2018 - break up or down? decision timeI have tracked BTC/USD 2014 market movements and correlated them to the current Bitcoin chart, marking possible similarities, resistances & breakouts. The current position of Bitcoin after the recent rally is drawing closer to the upper resistance, so will BTC breakout - fakeout or drop down to the lower resistance - decision time is looming with Bitcoin maintaning it's price ranging at 6500 USD its on course for a clash with the upper resistance by Mid October at any rate.
2014 BTC vs 2018 BTC - History is rhyming right now Looking into the theory that the 2018 Bitcoin chart painting is eerily similar to the bear market of 2014 - Maybe the MM's algo is doing it all over again.
Take a look and decide for yourself.
History may not always repeat, but it sure does rhyme.
I don't necessarily believe we will see $2,700 BTC any day soon, however after unbiased perspective it is not out of the realm of possibility.
2014 vs 2018 BTC Bear Market ComparisonLooking into the theory that the 2018 Bitcoin chart painting is eerily similar to the bear market of 2014 - Maybe the MM's algo is doing it all over again.
Take a look and decide for yourself.
History may not always repeat, but it sure does rhyme.
A little comparision between 2014 bear market and todays market.Just a comparision of the accelerated bear market we are in today vs the 2014 2 year bear market. The numbers and letters have nothing to do with Elliot wave just a way to mark some peaks and troughs. There is a definite similar structure as seen on this chart. I am a forever bull but I like to look at the whole picture and I am not a HODLer. www.tradingview.com
Bottom History AnalysisI've seen a lot of people comparing the current price action to the 2014 bear market so I thought I'd take some time to do the same. There are definitely many similar elements as far as reactions to previous support and resistance zones. If expect a similar trend to play out I think that puts our bottom somewhere around 3K. I've also heard many analysts that have been watching crypto since the early days have been calling a similar bottom. Its certainly possible that the announcement of an ETF could prevent us from going that low, but I could also foresee a scenario where the SEC delays their ETF decision whilst also releasing some unfavorable ICO news that could easily send us to 3K.
IS BITCOIN DEAD? [2014 edition]The 2014's one and the current bubble look pretty same... I compared them and found out that both are based on Elliot's waves.
LOOK AT 2018 edition TO FIND SOME SIMILARITIES
I suggest you to read this in order to understand Elliot's waves
2014 BITCOIN CHART ANALYSIS. ARE WE GONNA SEE THE SAME IN 2018?this is an analysis i did on the 2014 chart of bitcoin. It indeed looks very similar to current situation. After the break of the downtrend resistance, the price looked for the trend resistance of the previous bullish/sideways trend. Soon after that, it went back down again to search for new lows after a very long period of sideways boring movement. Are we gonna see the same thing happening now?
