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@EliteElliott

Will history repeat its self?

We are going to look at a Fractal on the BTC chart, but before we do that, I want to say that just because something has happened in the past, there is no guarantee it will happen again because we know, past performance is not indicative of future results.


However, if we take a look at the Daily Chart of BTC we can see the manifestation of a previously appeared pattern(red square) on a smaller scale(green square). 


Let's examine the similarities:


-Once BTC broke down from the Descending Triangle, a period of Consolidation followed.


-Right after that, we have seen a huge Volume spike  


-Then a sharp Price appreciation


- We also had a Crossover of the Moving Averages as well(it's about to happen again, fingers crossed :))


-And before the price continued higher we had a Bull-Flag formation(yellow circle).


What do you Guys think? Will we see the same playout?

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Comments

By Ceddd

What's your mid term target?