Bitcoin Head and Shoulders
Updated
Michael Burry tweeted about this a little while ago. I've been monitoring it for a month or so while the price has been ping-ponging around the $35,000 - $30,000 range.
If price dips and maintains below 32K, the pattern is confirmed it's going to tumble or crash hard. Like the broad equity market, the amount of leverage traders hold is quite likely off the charts.
If BTC tanks, the market will likely follow.
If price dips and maintains below 32K, the pattern is confirmed it's going to tumble or crash hard. Like the broad equity market, the amount of leverage traders hold is quite likely off the charts.
If BTC tanks, the market will likely follow.
Note
Stayed alive in part thanks to fiscal stimulus. Double top (both short term and long term). Under 33K will be a major problem.
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