Massive bull run incoming after correction is over.
This macro chart shows the relative correction ratios of three bear markets.
The bear market of BTC 2018, 2014 and that of the Nasdaq during the dot-com period.
The speed is equalized, and the price action is aligned based on the percentage decline
from the peak.
Bitcoin slipped below 1/3 the price of late 2017, further downside is expected mid-term.
If Bitcoin were to drop the same percentage from the peak as the Nasdaq did in the
aftermath of the dot-com, the low would be in the vicinity of $5000 to $4500.
Which equals a drop of ±77%.
If the price of Bitcoin would decline the same percentage from the peak as in 2014,
it would drop to a low of approximately $3000 to $2700. This 89% drop from 2014 is
possible, though it was largely due to the black swan event with Mt.Gox that the price
slipt that low, with uncertainty and doubt in the market being much greater at the time.
This macro chart shows the relative correction ratios of three bear markets.
The bear market of BTC 2018, 2014 and that of the Nasdaq during the dot-com period.
The speed is equalized, and the price action is aligned based on the percentage decline
from the peak.
Bitcoin slipped below 1/3 the price of late 2017, further downside is expected mid-term.
If Bitcoin were to drop the same percentage from the peak as the Nasdaq did in the
aftermath of the dot-com, the low would be in the vicinity of $5000 to $4500.
Which equals a drop of ±77%.
If the price of Bitcoin would decline the same percentage from the peak as in 2014,
it would drop to a low of approximately $3000 to $2700. This 89% drop from 2014 is
possible, though it was largely due to the black swan event with Mt.Gox that the price
slipt that low, with uncertainty and doubt in the market being much greater at the time.
Kommentera:
Remarkably, these trend lines show a high inter-correlation
Kommentera:
BTC bounced off the center line of the above trend-channel and is now in a neutral position inside a small ascending triangle.
If it breaks to the upside it could make it to the top of the channel at ±$7200.
Downward it the price would fall to the bottom of the above channel at ±$5300
If it breaks to the upside it could make it to the top of the channel at ±$7200.
Downward it the price would fall to the bottom of the above channel at ±$5300
Kommentera:
This clearly shows the importance of this trend channel
Kommentera:
Kommentera:
waiting for a confirmation break above the 66% line
Kommentera:
It confirmed as support, opening trade and setting stop-loss below this line
Kommentera:
Bitcoin could make a similar move as the Nikkei. Compared to the Nikkei, we would be going up now to the 0.382 Fib (-53%) Let's see how this develops...
