Bitcoin - 2014 Repeat?

Bitcoin - Daily - Log View

After a new all-time-high back in 2014 there was a significant correction with some characteristics to highlight.

- Descending wedge
- 3 phases of selloffs
- rally after 3rd selloff


The same indications are happening now after the 2017 all-time-high.

- Descending wedge
- 3 phases of selloffs
- rally after 3rd selloff (the yellow vertical line would show where we're at if they're playing out identically)


Just something to keep in mind as we move forward. I cannot guarantee this scenario will play out just like the previous one, I can only identify trends and similarities. That being said, is BTC going to rally now or are we going back to $4500?