BTC – Many Said It Is Dead. They were all wrong.

BTC – Many Said It Is Dead. They were all wrong.

Bitcoin / Dollar BITFINEX:BTCUSD


Today, we have prepared today a big picture of the BTC price – since 2013.
This is all on the log scale.
It will help us to understand fluctuations and see that current correction is a normal thing.

So at the end of 2013, we had a massive growth on BTC price – 900% in just 60 days.
After that long correction had started and many said that BTC was dead, it was worth zero and would never recover.
They were all wrong.

As we can see it was a long-lasting falling wedge which means we can expect to have a rally once price moves to the end and there is enough volume to jump up of this wedge.

That happened after 622 days. At the end of this time frame, we were in the horizontal channel. We call this boring channel.
Low volume , low volatility in general boring.

But finally in the middle of August 2015 bull run had started.

We would say the growth was rather moderate.
The angle of this trend was at 28 degrees which is far from 45 degrees (according to Gann’s theory 45 degrees is perfect as the time and the price move at the same pace).
Above 45 degrees money goes faster and up which mean increase of the bubble.
Below 45 degrees money goes faster and down which mean sell-off.

So at the end of March 2017, our 28 degrees trend has changed into 59 degrees trend.

This means we grew 2 times higher.

Two months before Christmas we had this euphoria on the market.

As a result, the price touched $20K. The trend steepness was at the level of 77 degrees.
A correction was inevitable.

Since the beginning of the year 2018, we are in the falling wedge again.
This time it is a bit sharper compared to this one in 2013-2015. It means that its sites/flanks will cross much faster. At the end of the wedge , with the help of positive volume , the price should jump out of the wedge heading north.

So Guys.
Don’t worry.

The state in which we are currently is perfectly normal.
Look back at the chart. It happened before and we managed to recover.
It will happen this time for sure.

Don’t panic stay calm and don’t sell your BTCs.

This technology will change the world.

It is a fundamental not only for a new fiscal and commercial world but probably it will democratize our countries and give more power to individuals.

Thank you for your time and reading.
If you like our analysis don’t forget to give a like and comment.
What is your story?

Have a wonderful weekend.

WBM Team