This is a very similar pattern that is probably going to repeat. These short term parabolic bull pushes just get eaten up and destroyed, thus continuing a down trend. I believe Bitcoin will eventually get new ATH's this year, just not sure that the bear destruction is over yet. Watch the charts closely the next 5 days, if it breaks below 7k, 6k won't hold.
Note
Positive news coming out of the G20 summit about cryptocurrencies has broken the short term bear trend: crypto-lines.com/2018/03/19/g20-cryptocurrency/The weekly chart is still pretty week, however a lot of good trades could be made in the short term.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.