I thought I would look at some historical BTC corrections to try and analyse whether the current correction which began on 17th Dec is lasting longer than usual (i.e. has the bubble burst or is this a normal correction in the BTC market?). I found it interesting that the 2017 June-July correction began on 11th June with BTC breaking out of the triangle on 10th July; the current correction is eerily similar starting on 17th Dec and breaking out of the triangle on 16th Jan.
The low came in the previous correction 7 days after breaking out of the triangle. We are on the 7th day subsequent to triangle breakout currently so we should see the low today with a powerful move upwards following immediately.
The low came in the previous correction 7 days after breaking out of the triangle. We are on the 7th day subsequent to triangle breakout currently so we should see the low today with a powerful move upwards following immediately.
