BTC 2014 comparison...End of correction, Start of new Uptrend?!?

Hey Guys... having a little fun here comparing the 2014 bear market to the current downtrend and I am finding some interesting similarities that hint to the end of this current downtrend being upon us.

The top chart is the 3day chart from the 2014 bear market that lasted about 18 months.

The bottom chart is the daily chart from the current 7month bear market. I do think that the futures contracts did throw off the symmetry of the

My interpretation is that we are at the lowest levels we will see and should start the long upward ascent back to new highs. Daily RSI levels are still oversold and although I don't see it happening, We MAY dip to a retest of $6k -$5800 with some major FUD and leveraged shorts spike. We can trade sideways for another couple weeks before we start moving up again. As we close out Q2 of the year the institutional investors will look to make this a very hot goldrush like summer and propel the market back to high levels. Especially if investors need to hedge a downtrend in the S&P (SPY) and Dow Jones (DJI).

This is my first post here on TV so please leave comments, let me know your thoughts.

Comment:

Lets see how this idea holds up. Ironically, the comparison and signals are even stronger on the BTC/EUR charts. Major FUD pumped over the last week causing price to dip below recent lows. RSI levels are oversold on all levels again, strong bullish divergence developing on larger time frames mixed with strong support levels along with other bullish indicators. I am personally going to take advantage of the lows while we have them and accrue more inventory for the long haul, also great swing trade entry levels.

Happy Investing...Happy trading!

Comment:

Next levels of resistance that I am looking at are $8500 and $9700