Bitcoin “Deja Vu” corrective sequence

Bitcoin December 2013

Bitcoin January 2015

Bitcoin July 2016

Bitcoin WXY 8H Chart 07/16/2017

Bitcoin ABC 8H Chart 07/16/2017

Recap

Market condition has changed over the time, instruments can be trending higher or lower in series of 3 wave sequences rather than impulsive sequence and this can be frequently seen in the forex market. Bitcoin is no exception as it’s just another financial instrument leading the correction of the cryptocurrency market and still has the potential to rally to new all time highs. It won’t matter if it will do it from current levels or a lower area, what really matter is how you are willing to manage your position during such movement to protect your investment.

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