These two charts highlight the similarities between the 2014 and 2018 Bitcoin bear markets.
The key points I’ve taken away from my “guestimation” are as follows:
- The % drop in price at key levels are scarily similar thus far between 2014 and 2018.
- The bull market of 2014 was far more explosive in a shorter period than that of 2018.
- This bear market has...
2 hour Bitcoin/Euro chart.
Green triangle represents tightening price action (consolidation) before an explosive move (lower highs and lower lows).
Bitcoin has been in a downtrend for weeks.
This pattern looks like a textbook bear flag = Consolidation before the next leg down.
Shorts are at an all time high.