BTC is repeating the 2017 fractal 1:1, RSI values are the same!

8 févr. 2021

I wanted to direct this to the more experienced traders around here. I have spotted a DAILY CHART fractal that is the exact copy of our current WEEKLY CHART pattern. The RSI is the exact copy as well (matching values and pattern). Our weekly candle corresponds to that from the 12th of December 2017 (daily chart).

Fundamentals seem to be quite similar too. BTC is overbought and FOMO (both retail and institutional) has just about prevented the healthy correction to the 100 Daily MA (typical for BTC bull runs of the past). Are they pushing too hard? Will BTC force a significant correction (causing FUD and DRAMA that will extend it to unrealistic lows?)

How relevant is this in your opinion?

8 févr. 2021

Note

The minute that screenshot was taken TESLA launched its new 5k candle and the pattern isn't a 1:1 copy anymore. It literally shot up in a second. Will it turn into another blip on the charts or will it push BTC harder? Musk seems to be manipulating the price masterfully. Every time the correction is about to take place BAM.