BITCOIN 2019 / 2020 ULTIMATE PRICE CORRELATION

6 Jul 2020

Here is the price of Bitcoin compare with 2019 bottom zone (below 4200).

Let't use Invert Scale on 2019 chart, here is the pic:

Look how similar the look now. I marked 7 phases in between Feb-Apr 2019.

Phase 1 (red box)
Price in 2 days making small dump and sideways, then suddenly pumps. Then moving in sideways without volatility. In 2020 we see similar action from start of the June, in 2 days price just pumped, then paused at top, then dumped into low volatility zone before phase 2. Phase 2

Phase 2 (blue box)
Price in 8 days moving in the big pump, sideways, pump and then dumping below the sideways zone. In 2020 we see similar price action, price dumps, then sideways another dump, then pumping to the sideways zone. Before phase 3 we see sideways and low volatility.

Phase 3 (green box)
In the 2019 price went down a little, then pumped this took 5 days, before entering sideways (up and down arrows) zone between 3 and 4.

Phase 4 (gray box) and 5 (red box)
After small pump, price stuck in the sideways and then suddenly made small dump for about 6 days. In 2020, we see similar price action, right now we are in point 5, and just last 4 days we were in the sideways.

Phase 6 (purple box)
Price after sudden dump in 2019 making sideways for 3 days before entering phase 7.

Phase 7 (cyan box)
In 2019 we see how price starting to sloping upside with small candles before huge pump in April.


Normal pic of 2019 here:


So here is my thoughts about the possible move, no matter which side of the bull or bear you are on. Realistically, both outcomes should be expected.
It’s important for me to use adequate stop loss for mid term positions. Now I am in long and expect a stop loss below 8600. In the opposite case, I will expect a price increase as long-term chart we are still bullish.

Peace and have nice profits!
This is Artem Crypto