in 2018 you can draw all these beautiful trend lines that the price is following. It's got a long term bottom trend line, and 2 prominent upper trend lines (1 from $19k and the current one). The price bounces off these trend lines like clockwork.
Look at 2014. The price isn't nearly bouncing off trend lines. There is some visual similarities in the MACD - sort of. But people are grasping at straws. The price behaved in 2014 because Mt Gox got hacked which controlled 70% of the market and some 650,000 btc got dumped on the market. Does that sound like right now?
It's like saying two people, one driving a truck and one driving a motorbike, and because they're people and they're both driving vehicles at the same time of the year on the same road, they're going to have the same gas mileage and driving behavior. They will have some correlation but that's it!
Look at 2014. The price isn't nearly bouncing off trend lines. There is some visual similarities in the MACD - sort of. But people are grasping at straws. The price behaved in 2014 because Mt Gox got hacked which controlled 70% of the market and some 650,000 btc got dumped on the market. Does that sound like right now?
It's like saying two people, one driving a truck and one driving a motorbike, and because they're people and they're both driving vehicles at the same time of the year on the same road, they're going to have the same gas mileage and driving behavior. They will have some correlation but that's it!