Re: If Bitcoin Repeats History? 5 Part TA Series On Descending Triangle Breakdowns
Part 1-8 now updated with recent price action, analysis changed of certain parts from similar to relevant and visa versa. Now included whether the analysis is short, neutral or long, as well as active, completed or inactive, as shown below. Currently all of these parts still appear relevant, with most of them still similar. 2:1 ratio of short to neutral calls, no longs.
Conclusion: Bitcoin is still repeating price history, nothing has dramatically changed. Don't forget to click the quote for larger images.
Conclusion: Bitcoin is still repeating price history, nothing has dramatically changed. Don't forget to click the quote for larger images.
Analysis & Status
Similar (6) | Relevant (3) | Irrelevant (0)
Short (6) | Neutral (3) | Long (0)
Active (7) | Completed (2) | Inactive (0)
Updated: October 24th 2019
Part 1: Descending Triangle Looking Similar To 2018 (Short - Active)
Comment: Broke down too soon for confirmation of similarity. Could still follow same pattern but less likely
Part 2: Measuring The Move of the Descending Triangle Breakdown (Short - Active)
Comment: Broke down as expected and following similar enough pattern, still awaiting for target.
Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low (Short - Active)
Comment: Broke down too fast and too far for similarity of a "slow grind" reversal, though notably fallen to a similar breakdown level.
Part 4: If Bitcoin Repeats History? Extrapolating 2012 Breakdown (Short - Active)
Comment: Broke down as expected, following similar enough pattern, waiting to see if range is formed.
Part 5: If 2017 Descending Triangle Repeats? Best Case Scenario (Short - Active)
Comment: Broke too soon to confirm Daily descending triangle target but now following similar pattern with a bear flag prior to continued breakdown.
Part 6: If Bitcoin Repeats History? Monthly TD Sequential Red 1 (Neutral - Active)
Comment: Red 2 following similar 2014 breakdown structure so far, waiting to see if 20 Month MA will prop up the price for further confirmation.
Part 7: Another Bearish Bitcoin Indicator: 200 EMA & MA Bearcross (Short - Completed)
Comment: Price broke down after further rejection followed by the bearish crossover as the nail in the coffin, pattern completed.
Part 8: Bitcoin's Full Moon Reversal 6 Month Pattern (Neutral - Completed)
Comment: Price notably continued to move downwards after making a final swing high during the Harvest Moon, pattern completed.
Updated: October 23rd 2019
Part 9: TD Sequential 9 Next Week To Decide Direction? (Neutral - Active)
Comment: TD Sequential 9 now in play, waiting to see if "full blown" wedge breakdown (B) will occur, or (C) pattern will continue.