BTC 2017-12 Top and 2018-12 (Bottom) Comparison
Here we compare the December 2017/January2018 Top in Bitcoin with the Inverse of the recent Bitcoin Price Action.
I drew out some similarities and pointed out one key difference which is the depth of the first retrace after topping out. This could be a key difference, or simply a difference due to the amount of hype.
If these similarities keep appearing, we can give ourselves good odds we got ourselves a mid/long-term bottom.
As always, we trade probabilities, which I think are now in the favour of longs. However, if our patterns are invalidated along the way, we reassess.
With this in mind, trade safely folks!
I drew out some similarities and pointed out one key difference which is the depth of the first retrace after topping out. This could be a key difference, or simply a difference due to the amount of hype.
If these similarities keep appearing, we can give ourselves good odds we got ourselves a mid/long-term bottom.
As always, we trade probabilities, which I think are now in the favour of longs. However, if our patterns are invalidated along the way, we reassess.
With this in mind, trade safely folks!
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