BTCUSD: If Bitcoin Repeats History? Extrapolating 2012 Breakdown

Bitcoin 2012: Descending triangle breakdown to measured target of -20%. Price consolidated in a tight range between $4.21 to $5.30 after disbelief rally. 7 years later, Bitcoin 2019: Descending triangle with measured breakdown target of -32%. Repeating 2012 suggests a consolidation between $6,415 to $9,420 for 1 year.
The time frames are very different, however the emphasis here is on a
BTCUSD descending triangle at the top of a disbelief rally from the bottom of the bear market after a 250% (3.5x) rise. The measured move back then was -20% that Bitcoin achieved. The -32% breakdown target after a 340% (4.4x) doesn't seem unreasonable.
Credit to KaliCrypto for the inspiration:

If Bitcoin Repeats History?
Part 1: Descending Triangle Looking Similar To 2018

Part 2: Measuring The Move of the Descending Triangle Breakdown

Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low

The time frames are very different, however the emphasis here is on a
Credit to KaliCrypto for the inspiration:

If Bitcoin Repeats History?
Part 1: Descending Triangle Looking Similar To 2018

Part 2: Measuring The Move of the Descending Triangle Breakdown

Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low

Nota
This idea is also playing out so far, as is Part 2.Pubblicazioni correlate
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.