Bitcoin 6K Support - Another Correlation betwen 2014 and 2018

Many traders will find abundant similarities between two crashes and may say that the history will repeat itself. However, we as a trader mostly overlook things.

Here is another important aspect that we have overlooked.

Bitcoin first drop during high volatility days defined the support as indicated in red ellipse. This held true in 2014 and was never broken. This also holds true to-date as 6K support was briefly touched but was never broken for weeks. Bitcoin rebounded at least three times from this support and this will be the fourth time if it does again.

If this analysis or view is true, then 6K is our final bottom.

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