I was comparing the 2017 bull run to the 2019 bull run and found some similarities. If we were to follow the same pattern after the parabolic blow off, I think we are still correcting and may have quite a bit to go. I know a lot of people are very bullish right now. But consider that BTC gained almost 5x with only a .38 Fib retracement. The MACD and price action are fighting overhead resistance. Something tells me we need to correct some more. Just something to keep in mind.
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We got our drop and it was pretty significant down to $10k. This is very hypothetical but I could see us having a small rebound and then dropping to the $9100 neckline support area. From here there are many possibilities, but one that stands out to me is a massive Head and Shoulders setup. If we were to complete an HS pattern, that would take BTC all the way down to the light blue uptrend. Again, I am merely trying to anticipate future price action and we all know how unpredictable Bitcoin is.
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Bitfinex has a very different trendline that the price has currently found support on. Sometimes checking BTC charts on multiple exchanges can show these kind of discrepancies. This is certainly a big one. Just thought I would bring it to everyone's attention in case you are also using Coinbase.
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Catching support on the daily EMA100. Let's hope it has a spring board attached to it lol