Bitcoin: 2017 Parabolic Rally vs. 2019 Parabolic Rally
Ok, my previous comparison used the daily chart from 2017 and I believe that was a mistake. I am now comparing both parabolic rallies on the 4H timeframe as my previous comparison was invalidated.
As you can see on the chart above, after the sell off in the 2017 rally BTC did make a higher high only after that did Bitcoin start the quick sell off...
One other reason why I believe the top is in, is because in the history of Bitcoin, never has Bitcoin ever made a higher high after such a huge shooting start on the weekly timeframe. This is a huge reversal signal that the overly bullish traders/investors are clearly missing.
As you can see on the chart above, after the sell off in the 2017 rally BTC did make a higher high only after that did Bitcoin start the quick sell off...
One other reason why I believe the top is in, is because in the history of Bitcoin, never has Bitcoin ever made a higher high after such a huge shooting start on the weekly timeframe. This is a huge reversal signal that the overly bullish traders/investors are clearly missing.
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