IF 2015 pattern repeats then we will bottom at the 0.5 Fib level on 6 Aug on the date for the Ligthcoin halvening
Note
In 2015 Bitcoin double topped at the 0.618 Fib level from the macro top, and had a ~38% drop to the 0.5 Fib level 6 weeks after on from the local top before continuing the bull market uptrend.Note
In 2019 Bitcoin again made a double top at the 0.618 Fib level from the macro top. If we follow the 2015 pattern and Bitcoin retraces to the 0.5 Fib level and falls ~38% from the local top, then Bitcoin will make a local low on the 6 August on the date of the Lightcoin halvening at roughly USD 8.500 before continuing the bull uptrend again.Note
This chart includes the 2019 double top at the 0.618 Fib level from the macro top.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.