Hi!
This TA is based on fractals.
Fractals are similar patterns that tend to repeat.
I prepared this chart for you about month ago, when we were at the double top, at around 11,4k USD.
This time i updated that chart with new support levels, and prices, but it doesn't change a lot.
As you can see, we are still literally cloning the price chart pattern from 2013/2014.
We have repeated so far almost everything.
We had the bottom at the same price level, we had that double top local pattern and then fell down to the same level.
I've marked with a circle the place where are we now.
If bitcoin is going to go the same path we may hit even ~3-2,5k USD.
Last time i wrote that recovering may take even 2 years. But as you can see, we are realising this scenario faster than before.
So it looks like we may hit ATH (~20k USD) around december 2018/january 2019.
What next? If we stretch 2013/2014 price chart and place it in log scale, looks like all the engines of BTC are in preheating mode
and we are going for hundreds of thousands :)
So this forecast may seems to be bearish, but is reeeally bulish!
So trade with caution and please remember - this information is not a recommendation to start a short or long position.
It's for educational purposes only.
If you like it hit the thumb button, and don't forget to follow me.
Otherwise you won't receive the notifications when i post an update or idea :)
And share with me your thoughts please.
Thanks!
This TA is based on fractals.
Fractals are similar patterns that tend to repeat.
I prepared this chart for you about month ago, when we were at the double top, at around 11,4k USD.
This time i updated that chart with new support levels, and prices, but it doesn't change a lot.
As you can see, we are still literally cloning the price chart pattern from 2013/2014.
We have repeated so far almost everything.
We had the bottom at the same price level, we had that double top local pattern and then fell down to the same level.
I've marked with a circle the place where are we now.
If bitcoin is going to go the same path we may hit even ~3-2,5k USD.
Last time i wrote that recovering may take even 2 years. But as you can see, we are realising this scenario faster than before.
So it looks like we may hit ATH (~20k USD) around december 2018/january 2019.
What next? If we stretch 2013/2014 price chart and place it in log scale, looks like all the engines of BTC are in preheating mode
and we are going for hundreds of thousands :)
So this forecast may seems to be bearish, but is reeeally bulish!
So trade with caution and please remember - this information is not a recommendation to start a short or long position.
It's for educational purposes only.
If you like it hit the thumb button, and don't forget to follow me.
Otherwise you won't receive the notifications when i post an update or idea :)
And share with me your thoughts please.
Thanks!
