Over the past several weeks I have posted several times about the symmetric declines that existed in the worlds most notable cryptocurrency.
So, here I am again pounding the table about a ~30% decline in BTCUSD that aligns with past declines. If you follow this blog, you know what this means. Odds are, that the market symmetry will hold around this level and the uptrend will resume. The past six times this happened over the last 18 months BTC was near a bottom.
In the meantime, let's be on the lookout for anything much deeper than 30%.
"The trend is your friend except at the end where it bends." -Ed Seykota
TN Trader
We have not had a strong rebound yet on the daily. You can't tell whether this is over already. We should see more buying power battling with selling power before the term 'bottom' can be used with more confidence.
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Up 13% from my call. I think the work speaks for itself.
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