Bitcoin on the Monthly >> Big parallels with Q2 2016 bull rally
Yet another Bitcoin update! $BTC
Monthly chart shows a strong parallel between the initial parabolic rise of early 2016 and 2019.
1- In June 2016, Monthly RSI topped out at the same level we seem to be topping out on now, around 60.75!
2- Both had roughly a strong parabolic rise of 300% increase or so in price from the real definitive breakout points, with a BlowOff Top at the golden pocket (61.8%-60.5% fib retrace)
3- Will 2019 retrace 41% as in June 2016? I think it's not unlikely.
Let's see!
Cheers,
Leb Crypto
Monthly chart shows a strong parallel between the initial parabolic rise of early 2016 and 2019.
1- In June 2016, Monthly RSI topped out at the same level we seem to be topping out on now, around 60.75!
2- Both had roughly a strong parabolic rise of 300% increase or so in price from the real definitive breakout points, with a BlowOff Top at the golden pocket (61.8%-60.5% fib retrace)
3- Will 2019 retrace 41% as in June 2016? I think it's not unlikely.
Let's see!
Cheers,
Leb Crypto