You see one retracement lasting 2 weeks.
I see two retracements lasting 2 days.
Show me where this happens in 2017.
Again, the market is trying to price in an event way too early.
No one argues that we are at least a year away from the mega-bubble.
This bubble is trying to price that in, and it will fail, as always.
I could actually show you a bunch of places in 2017 this exact thing happened... information bias seems to be kicking in my friend.
On that note, just look at this chart I keep showing you...
This is a weekly chart, and several of these pullbacks have less than 2 weeks from top to bottom.
Certainly, I won't be surprised if it works out this way...
But I think you're ignoring the obvious.
The ultimate question that must be asked:
What is the risk of exiting this market for 8 candles?
8 weeks aka two months.
What is the risk vs reward?
The risk is that the price goes x2 to $58k and then retraces down to $40k.
The gain from going bearish is retesting $20k support.
Looks like it's going to be volatile either way, so it's probably important to maintain a balanced position.
Again, I challenge you to overlay the doubling-curve on top of this analysis, and you'll see that the price bounces off it on all three of the first dips. The first three 30% retracements were fully supported by the doubling curve. That curve is at $14k right now. We have no support.
True support lies in where the biggest buyers are putting their buy orders. I can assure you that the largest institutional money isn't looking at your doubling curve when deciding where to put those orders.