This is pretty ugly

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Geometric Thinking Update

By Jim Fredrickson

This is a 3 day chart showing that Bitcoin has balanced the time from the ATH -> the Dec 2018 low -> now.

As time has balanced it is not unreasonable to think that a trend change could be coming soon.  We would like to believe that means that the bear is dead already and the market is going to spring to life.  But this chart looks far too ugly for me to believe that.

If, as I suggest in the picture above, this  market is 1/2 way through a C wave from the ATH, then it seems rather likely that this market will fall to at least that 3rd ap.

If that is the case, then panic will hit, I suspect.  Who knows, maybe even those whales sitting on hundreds of thousands of BTC might panic sell. ( As brutal as that would be in the short term though, that would be a blessing longer term.  The fact that only a few people own 80% of the world’s BTC is a curse on the technology.  It’s just as bad as the fact that only 8 families own the world’s central banks.  But I digress.)

The point is, imho, its time to get out if you are still in.  

 

 

This is not financial advice, just words of wisdom from someone who has seen it all over the past few decades.  Do with it what you will.  Happy Trading!

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