BITCOIN Has symmetry taken over?
I don't want to go into much detail on this one. This is just the current volatile price action explained by the assumption that Bitcoin is trading on a symmetrical pattern.
The July 2018 - December 2018 price action is close enough to be an inverse formation of the December 2018 - today formation. Their distance from High - Bottom is identical (144 as opposed to 151 days) and candle formation close enough to be a mirrored pattern (blue line).
This leads me to assume a scenario where BTC will simply consolidate after last week's Double Top for the next 30 days within 8500 and 5650. As seen on the graph also every Resistance on the way up has been "respected" , so it won't be a surprise to see a relief consolidation before the summer bullish leg.
Related material:
The July 2018 - December 2018 price action is close enough to be an inverse formation of the December 2018 - today formation. Their distance from High - Bottom is identical (144 as opposed to 151 days) and candle formation close enough to be a mirrored pattern (blue line).
This leads me to assume a scenario where BTC will simply consolidate after last week's Double Top for the next 30 days within 8500 and 5650. As seen on the graph also every Resistance on the way up has been "respected" , so it won't be a surprise to see a relief consolidation before the summer bullish leg.
Related material:
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