Re: Bitcoin Is Repeating History? TA Series On Repeating Past Patterns
Analysis & Status
Similar (9] | Relevant (1) | Irrelevant (0)
Short (7) | Neutral (3) | Long (0)
Active (6) | Completed (4) | Inactive (0)
Updates finally made, most relevantly another two patterns have completed as quoted below.
Part 3 Re-Activated making all other Active Parts relevant again. This TA series has become increasingly relevant as time goes on.
Also see first bullish accumulation long call at the bottom
Comment: The re-test of triangle resistance was delayed but price successfully achieved breakdown target of $6,875, as expected.
Comment: Broke down as expected with a delayed but eventual re-test of triangle resistance that held up, price reached target within a <1% margin or error.
Part 1: Descending Triangle Looking Similar To 2018 (Short - Active)
Comment: .Price now started to follow similar capitulation as 2018, notably finding support precisely where resistance is forecasted in the future..
Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low (Short - Active)
Comment: Price has returned to the path of a "slow grind" reversal after notably breaking down to similar support levels.
Part 4: If Bitcoin Repeats History? Extrapolating 2012 Breakdown (Short - Re-Active)
Comment: Price has notably returned to the same range as the 2012 descending triangle post-breakdown, suggesting further consildation.
Part 6: If Bitcoin Repeats History? Monthly TD Sequential Red 1 (Neutral - Active)
Comment: The Monthly Red 4 candle now looks definitively on the bearish path, implying another 3-5 months of correction.
Part 9: TD Sequential 9 Next Week To Decide Direction? (Neutral - Active)
Comment: Price accurately followed the path of the "bullish TD 9" with a 1-4 candle correction, but now drifting away from continuation of pattern.
Part 10: Extrapolating the 50 & 200 Day MA bear crosses (Short - Active)
Part 7: Another Bearish Bitcoin Indicator: 200 EMA & MA Bearcross (Short - Completed)
Part 8: Bitcoin's Full Moon Reversal 6 Month Pattern (Neutral - Completed)
Comment: Price followed the 2018 death cross path and more-or-less reaching it's first 75% probability target of $6,410.
Completed Patterns Last Updated: December 3rd 2019
Comment: Price broke down after further rejection followed by the bearish crossover as the nail in the coffin, pattern completed.
Comment: Price notably continued to move downwards after making a final swing high during the Harvest Moon, pattern completed.
Bitcoin has now entered the accumulation phase between the 2 & 4 Year MA's, represented by the 730 & 1460 MA's. As highlighted in green, this investment strategy has historically been the best tie to accumulate BTC for the long-term 4-year cycle, for 2014/2015, as well as 2018/2019.
The forecasted extrapolation is merely an example of where the price may consolidate in the coming months, but is far from a price target. The reference here is the accumulation phase is currently between $4650 and $7750, which may last only a matter of weeks, but historically lasts for a considerable amount of time, such as in 2014-2015 where there was an 11-month period of price consolidation and therefore accumulation.
Time to BTFD.
Here's a closer look at how price is currently moving in a similar way to the Winter 2014 breakdown:
