Bitcoin Repeating Pattern.
The recent price action seen with Bitcoin attempting to break 9k (B) is a carbon copy the same as we saw when Bitcoin was attempting to break 6k (A).
There was bouncing between the 61.8% and 87.6%, before eventually breaking through and then extending out towards fib level 4.272 at 8.5k.
If we extrapolate that for the recent move at 9k then we get something like 18.7k (C).
Anyway thought i would share the similarities between the two.
I would not recommend trading off this chart for obvious reasons but i remain bullish.
filbfilb
There was bouncing between the 61.8% and 87.6%, before eventually breaking through and then extending out towards fib level 4.272 at 8.5k.
If we extrapolate that for the recent move at 9k then we get something like 18.7k (C).
Anyway thought i would share the similarities between the two.
I would not recommend trading off this chart for obvious reasons but i remain bullish.
filbfilb
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