Is Bitcoin going to repeat the May Crash?
Almost identical fractal from November 2020 and now since the July bottom.
I'm not a big fan of fractals but the PA suggest we pay attention.
5 peaks (1-5) and corrective wave (ABC) - Bitcoin with a clear sign of weakness on September 6th and now sitting on November 2020 VWAP.
I'd say 43K must hold and bounce of the 0.5 Fib uptrend channel - if it fails I'm looking at 36K and most probably 30K.
Looking for some significant PA here to decide whether I'll long or short but def leaning bearish here. I wouldn't be surprised with some major fud this week or some significant legacy market news.
Let me know your thoughts in the comments.
I'm not a big fan of fractals but the PA suggest we pay attention.
5 peaks (1-5) and corrective wave (ABC) - Bitcoin with a clear sign of weakness on September 6th and now sitting on November 2020 VWAP.
I'd say 43K must hold and bounce of the 0.5 Fib uptrend channel - if it fails I'm looking at 36K and most probably 30K.
Looking for some significant PA here to decide whether I'll long or short but def leaning bearish here. I wouldn't be surprised with some major fud this week or some significant legacy market news.
Let me know your thoughts in the comments.
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