Is Bitcoin About To Do Something It Hasn’t Done This Year?

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Crypto Crew University says:

What are your thoughts – Bearish or Bullish? Thanks for your continued support! Top Rated Crypto Classes Today is the day you make a change 🙂

Rex Mentula says:

Yes, it looks indeed similar to the 2014-2015 bear market. However, you kinda neglecting that the price increase of BTC prior to the bubble burst in late 2013 and late 2017 are totally different. When analyzing a bubble, it's important to look at what happened before the bubble burst too. During the price increase in late 2013, BTC did not have any significant pullbacks/corrections which would act as a support during the later bear market. This is evident as the price of BTC hit the same price as prior ATH of early 2013. This time around, BTC have made several significant corrections along the way – creating support. Previous ATH was about 5k in september 2017.

Does this mean that the price of BTC will hit 5k (+/-)? Maybe. Is it likely? No. Why? Because BTC has only once hit previous ATH during a bear market or larger correction. On every other occasion, BTC bottoms out a level above previous ATH. In addition, BTC never bottoms out below a price level where the parabolic run started ==> Identified as several (relatively) big green weekly candles in a row. These movements happened to start november 1st when the CME futures were announced.

If the 2014-2015 bear market were to be comparable to the present market, you also have to consider that the entire market cap fell by 80 percent during 2014-2015. The same number during the present market is 77-78 percent. Remember that the market is extremely speculative, thus investors/traders do not care which asset they profit from, whether it is BTC or altcoins. By solely looking at BTC (which is half the market), you are missing out on the other half of the dataset.

Tim Ulrey says:

My thoughts.

I think between 10/25 and 11/15 is when we break down. That is the 20ish days before the completion of the decending triangle formed by the major trend line and major support.
This is precisely what happened in 2014, too.
Also, our weekly RSI is way, way, way too high. If I had to guess, it's b/c of USDT printing money in coordination with leveraged exchanges finagling shorts. These two things didn't exist in 2014 and I think they are why our weekly RSI is so high right now.
Our weekly RSI really needs to bounce off of that 25-30 zone one to three times before we go bull.

Jerry Smith says:

Hey Steve – what happens to Alts when BTC breaks market structure? – especially when dominance is so high

Önder Mehmet says:

death cross imminent at 4h chart

Luke Cheetham says:

Why do you never talk about VET, VeChain just partnered with BMW and I'm currently looking at purchasing one with VET coin entirely.

maxjoey sirrock says:

yes think bull going running thanks for your info please come back on youtube

Louie Smith says:

Your 3 day chart is very interesting. I'm learning so much from you. Your the absolute best. Thank you so much! Louie

audiovideotweaker says:

Your 2014/2018 comparisons and market structure analysis are great! +1

Eli Solomon says:

I'm sitting patiently on the sidelines with you Steve. This is one of those times to be cautious. Thank you for another great technical analysis.
Fist pump, Mr Courtney.

Rob Ert says:

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withoutwroeirs says:

A trend is your friend….. until the end.

prowler666 Eddie says:

Great TA! Thanks Steve!

BlockChain Media Network says:

BItcoins seems to be in a wedge so its not confirmed if its going to go up or down yet.

boopesh tripadi says:

Stop your bearish predictions bcoz the whales are manipulating the rate like 2014 and will be going to moon when every one sell the BTC at cheap rate

Bitcoin Jedi says:

Good video. Like your style. Btw if we break the market structure which it looks like what's going to happen. If your following the 2014 chart, this break is no where the drop that follows it. The chart you show has even a much worse drop a few inches over to the right on the chart. Why not also talk about that too since that would be way more catastrophic and is inevitable then. I guess it's best to move to USDT or USD now. Thank you for your time and doing very good videos.

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