Loading ...Possible vs Reality
Gold has done the heavy lifting.. following the roadmap laid in the chart foundations.
Bitcoin… has a possible road map.. with some notable differences in the structure, although at a high birds eye view.. look similar to what gold went through.
Now it’s time to walk the walk!
Lovely charts there Patrick. Bitcoin is VERY close to a critical breakout.
Getting a second chance to go to all time highs.. after a bubble bust.. on a short time frame is a gift from god. Not many assets get a second chance… and not at this close an interval.
Patrick, What would the BTC comparison chart look like vs. the mid-70s in Gold:
I suspect the Dec 2017 spike in Bitcoin might align with the Dec 1974 midway spike in Gold.
On the other hand, the BTC spike top in Dec 2017 followed by that ominous lower low, might look more like the 1980 blow off top in Gold. In that case, my “Everything is Vulnerable” thesis might come into play.
Ill check it more closely. I think I can also apply my distance from MA tecniques to see… I think more btc is in a post bubble.. and might never see 20k again. (Unless inflation really pics up ). Either case, it needs a close above 11k.. like silver needs a close above 20$ to see light out of tunnel.
It does make sense about the post bubble for BTC. You can’t argue with a spike followed by a Lower HIGH (is what I meant) in that BTC blow off top.
Yep. It needs time to heal. How much? Chart will tell us.