CHART 2016 VS 2019

[pamsugas]

The same pattern for 2016 with 2019
First form an ascending triangle then fall and sideways rise up to a few percent and now form a falling wedge pattern
I think support of $ 8300- $ 8400 is very strong, we will probably touch $ 12000 soon .. !!
What do you think..?

[bassbity]

From this past week bitcoin has continued to fall I didn't know it would last between $ 8.3k-8.4k but there is a lot of speculation that bitcoin will be bearish to $ 7.5k but I still doubt the analysis technique, to reach $ 12k and I think this will begin in early 2020.

[mk4]

"Past performance is not an indicator of future results"

One thing that TA can't sort of "predict" or at least foresee is people's emotions and opinions on a specific asset. Note that "Bitcoin" wasn't even that much of a household name in 2016; compared to today, whereas a lot of people has already heard of bitcoin(regardless if they know what it's for or not) and a good number of people lost money by buying at the peak and selling when it dropped significantly, leaving a bad taste on people's mouths. Compared to 2016-2017, I personally think that it will take a lot more than hype today to make bitcoin rise to it's highs.

[btc-facebook]

charts never lie, that's what I always believe, and after seeing both of your charts, I'm very sure, soon BTC will make a big jump,
at least the beginning of early 2020 is the leap if December does not occur.
but if we look at BTC trends today, it's been 3 months that BTC has experienced a correction, BTC should have experienced a pump in December.

[adaseb]

The charts might look similar but the fundamental events are not. I was around back in 2016 and what caused that huge spike in Aug was the Bitfinex hack. There was like 120K BTC stolen (that is 120,000 BTC and not $120,000USD) and it caused a huge 20% dip in the markets. Bitfinex was huge back in 2016.

With the 2019 chart of $10K breaking, was there an actual event why it crashed? No there wasn't. The Bakkt was launched a few days prior and it was a positive event and not negative. It was mostly a technical pattern that happened because the $9K was strong support and it broke and caused massive liquidations.

So its a similar chart but different scenario and it might or might not exactly play out how you want it described.

[Kemarit]

One thing to add though is that this market is fairly young, you can even say that we are still in the infancy stage so the data is small, that we can't even compare it and make a positive conclusions. The charts might look similar but there are a lot of difference, the cycles, the fundamentals, the players around, institutional money, investors growing etc. etc. One thing that remains constant here is the manner the price is being manipulated from behind by the whales though. We have to look at how this playa' will turn the market around at the end of this year and see if $12,000 can be reach again.

[Free1bitco.in]

On the chart, in 2016, November saw a sharp increase in bitcoin. In November this year, the development of bitcoin prices was not so fast. despite their similarities, I think 2019 will have a slightly longer time to make a high increase. if this is in accordance with my speculations, then the price of bitcoin can go up like November 2016 in December or early 2020 to come.

[Mumbeeptind1963]

On the chart, in 2016, November saw a sharp increase in bitcoin. In November this year, the development of bitcoin prices was not so fast. despite their similarities, I think 2019 will have a slightly longer time to make a high increase. if this is in accordance with my speculations, then the price of bitcoin can go up like November 2016 in December or early 2020 to come.

Yes , on November that year shows the bitcoin on its bull trap season, in this year it is hard to say that  in the following weeks or months bitcoin will began to be like that again. It is slowly going up now but most of the days we can see that it goes down trend. In order for us to have a conclusion that we will obtain a chart like that again it needed to be continously go upward , let see for the following days it is really a bull trap season now.

[crossabdd]

it's very good for technical analysis. and have something in common in 2016. If it does, we will see an increase in December and January. but we also cannot be sure that it is strong support. because in crypto currencies, anything can happen. I hope this support is strong. and re-form the rising pattern until halving is finished and makes the pump high like in 2017.

[Jating]

it's very good for technical analysis. and have something in common in 2016. If it does, we will see an increase in December and January. but we also cannot be sure that it is strong support. because in crypto currencies, anything can happen. I hope this support is strong. and re-form the rising pattern until halving is finished and makes the pump high like in 2017.

I doubt that we will see a pump similar to 2017 after the block halving, it will take months or even years if we are going to see another massive pump.

But it's good to see the comparison chart, at least we have something to look at and people will find reason to invest on bitcoin because of the supposedly similarity between the two. But the moral here is that despite some similarity there could be a lot of difference and that the pump might not actually happen in 2020 but in the following years to come.

[milewilda]

The charts might look similar but the fundamental events are not. I was around back in 2016 and what caused that huge spike in Aug was the Bitfinex hack. There was like 120K BTC stolen (that is 120,000 BTC and not $120,000USD) and it caused a huge 20% dip in the markets. Bitfinex was huge back in 2016.

With the 2019 chart of $10K breaking, was there an actual event why it crashed? No there wasn't. The Bakkt was launched a few days prior and it was a positive event and not negative. It was mostly a technical pattern that happened because the $9K was strong support and it broke and caused massive liquidations.

So its a similar chart but different scenario and it might or might not exactly play out how you want it described.

Right! Looking at charts or shall we say totally dependent on it wont really be that good since we havent still see yet on the other part or side of the story.
As you elaborate where comparing of events on such timeframe which we can say that they are really totally different.We might see common patterns but doesnt
mean that they would do the same thing on next years to come.Technicals arent really that precise to rely on but its much better than having than no analysis at all.

[MURONDI]

yes, trading has a pattern that repeats itself, some people learn indicators too by understanding previous patterns, I also hope prices will go up like in 2017, but we also need to be vigilant because there is no analysis that is 100% accurate.

[Colt81]

The patterns in the market chart of 2016 and 2019 are really the same, that is why thereis a huge chance that bitcoin having will occur this year of 2019 or in the starting year of 2020, and it that happens bitcoin would reach it's price up to 20k USD again. But a lot of people says that bitcoin will increased it's price even more due to it's popularity that a lot of people are now interested to invest and used bitcoin.

[CarnagexD]

it's very good for technical analysis. and have something in common in 2016. If it does, we will see an increase in December and January. but we also cannot be sure that it is strong support. because in crypto currencies, anything can happen. I hope this support is strong. and re-form the rising pattern until halving is finished and makes the pump high like in 2017.

I doubt that we will see a pump similar to 2017 after the block halving, it will take months or even years if we are going to see another massive pump.

I am sure that it will happen again after a long time, 5 years or more. Block halving is a great factor for saying it so, we might see a massive pump again in 3 to 5 years at least. But bear in mind that bitcoin is not the only cryptocurrency we can enjoy with, there tons of crypto to play with the market, Diverse as they said.

But it's good to see the comparison chart, at least we have something to look at and people will find reason to invest on bitcoin because of the supposedly similarity between the two. But the moral here is that despite some similarity there could be a lot of difference and that the pump might not actually happen in 2020 but in the following years to come.

As a matter of fact people don't really seem to base on charts but on the current trends, and they will just know it afterwards. Investing isn't that hard but the courage of investing is pretty hard to get especially on beginners who is not confident enough to go in the fluctuating market risking their money. What I think the key here is that, don't expect that much or do not be overconfident because of what you have seen online. Just be chill and positive.

[el kaka22]

I have always talked about the similarities of the increases before but nobody listens to me. I feel like the 2017 increase in price may actually happen in 2020, sure when 2020 looks similar to 2017 we will know that 2016 will be like 2019 as well because when bitcoin goes up really high it is apparent one year before but we never actually know until it happens because we are afraid. I am not gonna lie I have stashed as much bitcoins as I can in the side, it is above 5k now and I am contributing to it every month because I feel like 2020 will be an amazing year.

So far I even made a small tiny profit because most of my purchases were around 7k levels and I even sold some at 10k levels and bought back so right now I have a profit but I won't sell until late 2020.

[Theb]

Might be a similar pattern last three years ago but it doesn't guarantee that it will repeat itself on what had happened during that time. You still need to treat each pattern as a unique case where you don't need to consider anything about its past movements prior to that pattern, the pattern/formation can still either make or break depending on the supporting indicators such like what you have given which is RSI and others like volume and MACD. It's a good thing that you have recognized the falling wedge pattern now but it's not good that you are analyzing it in a way that you are comparing it's historical price movement and basing your analysis on it.

[tenakha]

The same pattern for 2016 with 2019
First form an ascending triangle then fall and sideways rise up to a few percent and now form a falling wedge pattern
I think support of $ 8300- $ 8400 is very strong, we will probably touch $ 12000 soon .. !!
What do you think..?

I do not think so. TA does not work here with this logic. Candles in the crypto sphere are more prone to fundamental news. Psychology works better here. For example, the expected halving for next year may be the exact opposite of TA, but make sure that halving will be superior. TA may be useful in short term, but in long term you will not get satisfying results.

[dark08]

Might be a similar pattern last three years ago but it doesn't guarantee that it will repeat itself on what had happened during that time. You still need to treat each pattern as a unique case where you don't need to consider anything about its past movements prior to that pattern, the pattern/formation can still either make or break depending on the supporting indicators such like what you have given which is RSI and others like volume and MACD. It's a good thing that you have recognized the falling wedge pattern now but it's not good that you are analyzing it in a way that you are comparing it's historical price movement and basing your analysis on it.

Maybe you are right but always remember this fractal have a possibility to repeat itself no one know what will happen to bitcoin price in a couple of hours, days, week or months.
Many people are expecting a good price run before the 2020 halving but like what a said no one will know what will happen.

[skiorf]

I at least believe that history can sometimes be the same in previous years, but here I am inclined to support $7700 which is very strong because what I see from the Parabolic SAR indicator still shows a falling trend in the 1D time frame.

[Murat]

From a close observation, I came to know a very similar pattern of both year for this time, that's why I also assumed that November and December would be the most suitable time to invest and trade in this platform, not only that but also Bitcoin price will automatically increase when this time comes, From my joining to this platform, I have a belief that Bitcoin price will increase at an increasing rate but 2017 was a mystery, Basically, people want Bitcoin value as like as 2017 but it's not the base of this platform, definitely it was a flook, but the price will increase for sure, so 2020 will be the most exciting year.