BITCOIN! History has a tendency to repeat itself.

This is my view on #BITCOIN. Long-term I am LONG on CRYPTO but every bull-run has to end. Don't be the guy that took no profits from the bull-run.
In this technical analysis, monthly chart is being used to see the bigger picture of what's currently going on with Bitcoin:

1. We can see that every bull-run ends with closure of one bearish monthly candle.
2. We can see that after monthly candle closes bearish, price tends to pullback to the point from where the bull-run started.
3. Also we can see that price respects and stays above 50-day exponential moving average.
4. We saw a bearish monthly candle close once again and price started to drop.
5. Fibonacci levels are being respected for now... and if price keep respecting Fibonacci levels we may see another drop to the 50-day exponential moving average that aligns perfectly with Fibonacci 1st target. Or even lower to the 2nd Fibonacci target which again aligns with the zone from where the bull-run started.

Comment:

ATH not broken, analysis still valid. This is a good time and a second chance for everyone to take more profits now when we are at ATH.
Price spiked past ATH but weekly candle rejected it and closed below. We shall see how this week candle closes and determine what to do next.
As I said, analysis still valid and bias unchanged.

Comment:

UPDATE: Price moving per analysis.. Looks like it really was Bitcoin's last breath and last chance for everyone to take some profits. After my last update in October, BTC kept dropping hard and as you can see we have a 3 bearish monthly candles.

Comment:

Guess my analysis and market view was right.

Target 1 almost reached.
Target 2 pending....

You are welcome. :)

Comment:

Target 1 smashed.
Target 2 pending...

:)

Comment:

Still valid, still waiting :)
Patience

Comment:

:)))))