It looks like BTC is repeating 2014 correction pattern at double speed.
If you pay attention to the percentages of degrowth and growth today with those of 2014 you will notice many similarities.
The growth rate of 2017 was unsustainable and the Bollinger Bands on the monthly timeframe are still very far.
The targets on which we could witness the two rebounds that could take place, the first in the 4400 where we find the 0.786 Fibonacci retracement and the monthly average of the Bollinger Bands.
Then it could bounce up to 8200 and then drop down to 2500 where we find a very robust support structure and would be in line with the percentages and times of 2014 at double speed.
Then we could expect months of lateralization and accumulation in a price zone between 3,000 and 5,000 and then witness a break up to $ 9500 towards the end of the year.
Then the uptrend towards $ 100,000 would start.
This is my personal opinion and this is not a financial advice!
Good trading!
If you pay attention to the percentages of degrowth and growth today with those of 2014 you will notice many similarities.
The growth rate of 2017 was unsustainable and the Bollinger Bands on the monthly timeframe are still very far.
The targets on which we could witness the two rebounds that could take place, the first in the 4400 where we find the 0.786 Fibonacci retracement and the monthly average of the Bollinger Bands.
Then it could bounce up to 8200 and then drop down to 2500 where we find a very robust support structure and would be in line with the percentages and times of 2014 at double speed.
Then we could expect months of lateralization and accumulation in a price zone between 3,000 and 5,000 and then witness a break up to $ 9500 towards the end of the year.
Then the uptrend towards $ 100,000 would start.
This is my personal opinion and this is not a financial advice!
Good trading!