BTC Will History Repeat Itself Like OCT 2018?
Historical data are very important, we cannot ignore them as a source of reference, especially on large timeframes like Day or above.
Currently, Bitcoin is trading at $19,419 after a surge of nearly 2% in the last 24hrs. Meanwhile, the same is with Ethereum, Cardano, Solana, Polygon among others, especially low-cap tokens last 48 hrs. Comparing Bitcoin’s price actions prior to the midterm elections of 2018 with those of 2022 shows a strikingly similar bear market trend.
For instance, BTC price trended lower in 2018 while holding a horizontal level near $6,000 as support, only to break below it after the midterm elections. With the midterm elections scheduled for Nov. 8, the said breakdown scenario could occur sooner or later
For swing traders, I think we need to wait a little longer for the price to break out of this pattern and make a big move.
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If this is your first time coming to my idea, thank you very much for taking the time to pay attention to it. My opinions are all subjective and personal. It might be right, or wrong, but there is one thing I can guarantee you will never go wrong - always set the SL for each entry before setting the TP for it.
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Currently, Bitcoin is trading at $19,419 after a surge of nearly 2% in the last 24hrs. Meanwhile, the same is with Ethereum, Cardano, Solana, Polygon among others, especially low-cap tokens last 48 hrs. Comparing Bitcoin’s price actions prior to the midterm elections of 2018 with those of 2022 shows a strikingly similar bear market trend.
For instance, BTC price trended lower in 2018 while holding a horizontal level near $6,000 as support, only to break below it after the midterm elections. With the midterm elections scheduled for Nov. 8, the said breakdown scenario could occur sooner or later
For swing traders, I think we need to wait a little longer for the price to break out of this pattern and make a big move.
________________________
If this is your first time coming to my idea, thank you very much for taking the time to pay attention to it. My opinions are all subjective and personal. It might be right, or wrong, but there is one thing I can guarantee you will never go wrong - always set the SL for each entry before setting the TP for it.
Don't forget to Follow, and comment your thoughts below, or simply a Boost button if you found it helpful. That encourages me a lot to share my ideas!
There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.