i wonder how to make the chart like this because i don't know how to do it. but if this is really happen, then the chances to getting down its really big and we can see the price is down to deep, it will make many people getting panic especially in the market, people will sell their bitcoin as soon as they can because they don't want to get loss and they can make invest with low price in that time.
Bored people who make it their hobby to trade Bitcoin read a lot of books about technical analysis and do all the elaborate charts that does not really predict anything. While the real professionals are very quiet about what they are really doing and yet the are the individuals who are making the real money by trading. Most of the time the hobbyists are mostly looking for validation in their lives.
You may want to know that those technical analysis also works good with Bitcoin, except one does not know what to look at. In the absence of any significant news, what usually rules the market is technical analysis and any trader that is able to recognize and capture those butterfly formations cannot be say to be a hobbyist. It takes keen interest and passion to be able to come this far in trading.
What the analysis is actually saying is that we should expect test of key support levels before price shots to new highs and that is not something strange as many more traders will rush to take profit as price keeps increasing and then there would be a drop in price for another opportunity to buy at lower prices - that is just it, the raw figures there only serve as guide.