BTC - Well this pattern looks familiar!

BTC - Well this pattern looks familiar!

By Doc | Doc | 5 Sep 2019


Bitcoin may be pulling back, but we have seen this setup before.

Back in 2012 and 2016, after bitcoin bottomed and started turning up, we saw a period were prices consolidated and pulled back.

Here is an image of the relative strength during both of those moves...

351665157-8aaad707132863f40c7c0019af00b80a94508e2e6b0c50fed90f98a6ac9c5c52.jpeg

(Source: https://twitter.com/100trillionUSD/status/1166960965486882816)

Notice how it came off the lows, pulled back in the middle there, and then shot up to the top of the range.

Right now, bitcoin looks an awful lot like how it did back in mid 2012 and mid 2016.

History doesn't always repeat, or repeat exactly in the same way, but it often rhymes.

Especially as it relates to bitcoin, and if history is any indication this is most likely just a temporary dip on the way to new highs.

With the halving less than 9 months away, this may be our last best chance to pick up bitcoin at these prices.

Stay informed my friends.

-Doc

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