I used fib on time scale to measure the cycle and to tear up the fractal into different stages of the market. These proportions most likely can be applied to the case happened in recent 2 years. Consider the M shape on the bottom that implies that market has lost its bearish incentive, can't fall anymore and is about to reverse its direction.
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0.786 fib retracement = around 4K
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How bears view BTC
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Accumulate as the price moves closer to the level of 0.786
交易开始
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Relevant
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Crossing above the curve once more is a bullish sign, as well as entering green area.
the major difference between 2014 and now is A LOT more people are talking about crypto daily. So the surprise since everyone is looking at this chart, is that we end up on the bullish side of this since demand is growing Quarter over quarter.
ChrisGillespie
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@Dashtothetop, Agree totally. I find these chart comparisons interesting but crypto maturity, infrastructure, platforms and general market awareness will play a huge factor in how this plays out.
fract
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@Dashtothetop, agreed
fract
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@Dashtothetop, so I suppose you’d agree with this idea
lisek15lisek
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Why would we go the exact same route as in 2014/2015?
The level of FUD at the time was enormous, today it's like a stroll in the park in comparison.
caimano
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@lisek15lisek, maybe the magnitude could be different but the pattern could be there, look at this:
caimano
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@lisek15lisek, your charts are valid too. Overall it's always about to guess the future and future does not exist yet! The truth is that today we are overwhelmed with information, indicators, patterns e theories and all these stuff are noises.
For example in your charts you see clearly how a descending triangle has been followed from an uptrend, this is against the pattern, so when everybody sees on the big picture the descending triangle they see a bearish market head, but the reality back in 2013 was the opposite.
Let's see ...