If you want more insights, including analysis of intraday, daily, weekly and monthly charts, member only webinars, Twitter updates, and trade plans, then join the SB community (click here for more).
The comparison to silver was extremely helpful in anticipating the blow-off and initial collapse but the extent of the BTCUSD rally from 2/6 recalls behavior following the 2013 top.
Following a parabolic advance, BTCUSD declined 67% from its late 2013 high in 18 days, recovered 78.6% of that decline in 19 days, and then resumed lower.
Following a parabolic advance, BTCUSD declined 70% from its late 2017 high in 51 days, recovered ? of that decline in 51+- days, and then ?
If BTCUSD holds up, then there may be an opportunity to buy weakness in mid-March for an extension into 14415 or 16725 (61.8% and 78.6% retracements). Those are the levels where I’d be looking for the next peak, especially if reached in late March. 3/29 is when the rally from 2/6 would consume 51 days, which is the length of time of the down sequence. In 2013, the down and up sequences consumed roughly the same amount of time (18 and 19 days). Stay tuned.