Bitcoin compare of the fall and its correction ??November 22, 2018
So, we see a drop to Fib 0.786, but if you look at the entire history of the Bitcoin price movement, you can see larger plums:
in 2011, the price rolled back to -94% (from $ 35 to $ 2),
also this year there is a drain to -83% (from $ 12 to $ 2),
then draining in 2013 to -82% (from $ 259 to $ 45),
then there was a drop in 2015 to -86% (from $ 1140 to $ 150),
and now they have fallen just to -78% (from 19,900 to 4,300), corresponding to the Fibonacci resistance level.
Therefore, to go below the chances are quite real. Level 3000, for example, corresponds to a decrease of -84.9%, and 2000 is equal to -89.9%. Thus, the downtrend may continue, but not without corrections of such drops! The now formed symmetrical triangle from the past post is a warning rather than a further expected forecast. In general, now the picture is bullish, we need a rebound, we need a correction of the fall. Most indicators look positive, we can get an increase to the levels from which we began to fall, but a break above may be a bull trap, after which the price will continue to follow the downward trend.