Today’s question:

Is Bitcoin starting to behave like Gold in 2011?

Well, no further comments – the chart shows what I mean. Points A, B, C, D and E are similar and the 1,2,3 upward correction looks like a typical Elliott Wave “abc” upward correction following an impulse leg down (CD on the chart). Simplistic I know but I am trying to keep it simple and not overthink:

Perhaps?

Kudos to Jim Wyckoff at Kitco who is doing frequent analysis of the Bitcoin chart nowadays; here for instance:

http://www.kitco.com/news/2018-01-11/Bitcoin-Daily-Chart-Alert-Technical-Damage-Mounting-Jan-11.html

Bitcoin charts are here:

http://www.kitco.com/bitcoin-price-charts-usd/

My original blog post:

http://1000gold.blogspot.com/2018/01/is-bitcoin-starting-to-behave-like-gold.html