Bitcoin - SHOCKING Similarities to 2018
تم تحديثه
Hi Traders, Investors and Speculators of the Charts 📈📉
In today's analysis as a Bitcoin chart, I take a look at a fractal that played out on Bitcoin during 2017 - 2018. Why this fractal is so relevant despite the obvious similarities, is because it played out after BTC's previous ATH formed. Afterward the bearish cycle was the beginning of the bull cycle that led to BTC's current all time high. We are currently also correcting from BTC's latest ATH and a very similar pattern points to BTCUSDT potentially setting up to make new highs.
I believe there is an important balance between trend line analysis / chart analysis, and technical indicator analysis. I find that fractals and trend analysis ( trend lines , support zone and resistance zone , Fibonacci ) is really helpful for longer term, whilst technical indicators such as RSI can be very useful for the shorter term. Important to note that today's analysis is focused on longer term, in other words potentially more than 3 months as the previous fractal also played out over a few months.
Since you're here 👀 Check out this idea on XRPUSDT :
Have a great weekend 🥂
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CryptoCheck
In today's analysis as a Bitcoin chart, I take a look at a fractal that played out on Bitcoin during 2017 - 2018. Why this fractal is so relevant despite the obvious similarities, is because it played out after BTC's previous ATH formed. Afterward the bearish cycle was the beginning of the bull cycle that led to BTC's current all time high. We are currently also correcting from BTC's latest ATH and a very similar pattern points to BTCUSDT potentially setting up to make new highs.
I believe there is an important balance between trend line analysis / chart analysis, and technical indicator analysis. I find that fractals and trend analysis ( trend lines , support zone and resistance zone , Fibonacci ) is really helpful for longer term, whilst technical indicators such as RSI can be very useful for the shorter term. Important to note that today's analysis is focused on longer term, in other words potentially more than 3 months as the previous fractal also played out over a few months.
Since you're here 👀 Check out this idea on XRPUSDT :
Have a great weekend 🥂
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support !
CryptoCheck
ملاحظة
This fractal is holding up well so far.ملاحظة
Expecting lots of volatility for BTC this week !ملاحظة
Bitcoin spot buys up 30% as fear for money security in banks increase in lights of SVB saga.More details here:
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Latest BTC update here:
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SoftQuant Website
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