Why Bitcoin pattern is similar to 2018 bear market
Hi Tradingview Crypto community!
Today I would like to share my TA idea and explain why I think Bitcoin is still due for 50% capitulation.
After doing a technical analysis of the previous bear cycle of 2018-2019 it has been spotted that Bitcoin is following the previous price pattern almost like for like.
I have copied & pasted it, and overlaid it over the current price pattern just to show you some similarities here. Off course, we can argue that previous history isn't always an indication of the future. But let's see how this will play out.
This is something to keep it under your radar over the next few weeks. If 50% of capitulation from the current price level will happen then we should
see the price of Bitcoin dropping to around $10k level.
I am not sure if this bear cycle of Bitcoin will follow the same pattern as they all have been different. However, I am still expecting to scoop Bitcoin at much lower levels.
Stay Crypto.
And don't forget to like and follow my ideas.
Today I would like to share my TA idea and explain why I think Bitcoin is still due for 50% capitulation.
After doing a technical analysis of the previous bear cycle of 2018-2019 it has been spotted that Bitcoin is following the previous price pattern almost like for like.
I have copied & pasted it, and overlaid it over the current price pattern just to show you some similarities here. Off course, we can argue that previous history isn't always an indication of the future. But let's see how this will play out.
This is something to keep it under your radar over the next few weeks. If 50% of capitulation from the current price level will happen then we should
see the price of Bitcoin dropping to around $10k level.
I am not sure if this bear cycle of Bitcoin will follow the same pattern as they all have been different. However, I am still expecting to scoop Bitcoin at much lower levels.
Stay Crypto.
And don't forget to like and follow my ideas.