BTCUSD: If Bitcoin Repeats History? Extrapolating 2012 Breakdown

16 sept 2019

Bitcoin 2012: Descending triangle breakdown to measured target of -20%. Price consolidated in a tight range between $4.21 to $5.30 after disbelief rally. 7 years later, Bitcoin 2019: Descending triangle with measured breakdown target of -32%. Repeating 2012 suggests a consolidation between $6,415 to $9,420 for 1 year.

The time frames are very different, however the emphasis here is on a BTCUSD descending triangle at the top of a disbelief rally from the bottom of the bear market after a 250% (3.5x) rise. The measured move back then was -20% that Bitcoin achieved. The -32% breakdown target after a 340% (4.4x) doesn't seem unreasonable.

Credit to KaliCrypto for the inspiration:

If Bitcoin Repeats History?

Part 1: Descending Triangle Looking Similar To 2018

Part 2: Measuring The Move of the Descending Triangle Breakdown

Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low

17 sept 2019

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Part 5: If 2017 Descending Triangle Repeats? Best Case Scenario

25 sept 2019

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This idea is also playing out so far, as is Part 2.

28 sept 2019

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Part 6: If Bitcoin Repeats History? Monthly TD Sequential Red 1

9 oct 2019

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Part 7: Another Bearish Indicator: 200 EMA & MA Bearcross

13 oct 2019

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Part 8: Bitcoin's Full Moon Reversal 6 Month Pattern

21 oct 2019

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Part 9: TD Sequential 9 Next Week To Decide Direction?

27 oct 2019

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Part 10: Extrapolating the 50 & 200 Day MA bear crosses