Noticed that
BTC is potentially repeating a pattern that we've all seen recently...
We could be seeing either:
- A highly coordinated bear trap..
or
- A continuation of the current correction..
Thoughts??
*moved the pattern down a bit to make it easier to see*
Now while pattern similarity doesn't necessarily mean guaranteed PA (Price Action) this is still a concern to keep in mind...
A side note However, is the US and Asian Stock Markets have been quite undecided as of late, maybe we see a correction on them which causes a drop in crypto (due to the correlation) ?
Here are my current thoughts:

^Above is the fractal shown
Now taking into account some of my previous charts on the stock indices, We could see a correction from them which causes Bitcoin to finish off this fractal it's been painting?
Here is a combined ticker on global stocks:

Having a look at SPX we can see a potential bearish setup also as it's currently breaking down:

And we have a similar situation for the following 3 indices:



Bearish setups and/or bearish breakdowns..
With the potential correction on various stocks, this could complete the fractal for BTC as shown in the chart...
or
It's just one major and elaborate bear trap before a major bullish continuation...
A well thought out bear trap makes sense from a Macro point of view also!

However, Only time can tell from here, But it's good to keep in mind this fractal & the information above.. Good luck!
Related Ideas below:










Some food for thought that's for sure... What are your thoughts??
*Symbol tags below, Ignore these*
BTCUSD
BTCUSD
BTCUSD
BTCUSD
BTCUSD
BTCUSD
BTCUSD
BTCUSD 
BTCUSDT 
BTCUSDT 
BTCUSDT 
BTCUSDT 
BTCUSDT 
BTCUSDT 
BTCUSDT 
BTCUSDT 
BTCUSDT 
BTCUSDT 
BTCUSDTPERP 
BTCUSDT
BTCUSDT_PREMIUM
SPX
SPX
SPX500USD
W1DOW
NQGI
NQGM
TOTAL
TOTAL2
TOTAL3
SATSUSD
BLX
*Symbol tags above, Ignore these*
We could be seeing either:
- A highly coordinated bear trap..
or
- A continuation of the current correction..
Thoughts??
*moved the pattern down a bit to make it easier to see*
Now while pattern similarity doesn't necessarily mean guaranteed PA (Price Action) this is still a concern to keep in mind...
A side note However, is the US and Asian Stock Markets have been quite undecided as of late, maybe we see a correction on them which causes a drop in crypto (due to the correlation) ?
Here are my current thoughts:
^Above is the fractal shown
Now taking into account some of my previous charts on the stock indices, We could see a correction from them which causes Bitcoin to finish off this fractal it's been painting?
Here is a combined ticker on global stocks:

Having a look at SPX we can see a potential bearish setup also as it's currently breaking down:

And we have a similar situation for the following 3 indices:



Bearish setups and/or bearish breakdowns..
With the potential correction on various stocks, this could complete the fractal for BTC as shown in the chart...
or
It's just one major and elaborate bear trap before a major bullish continuation...
A well thought out bear trap makes sense from a Macro point of view also!

However, Only time can tell from here, But it's good to keep in mind this fractal & the information above.. Good luck!
Related Ideas below:










Some food for thought that's for sure... What are your thoughts??
*Symbol tags below, Ignore these*
*Symbol tags above, Ignore these*
Note
Fractals are repeating patterns ( fractalfoundation.org/resources/what-are-fractals/ )^For those new to the term 'Fractal'
Note
Fractal has been adjusted to better fit the scale of the current pattern & each wave's individual scale variationNote
Funniest Bear trap in recent memory hahahRelated publications
Disclaimer
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.
Related publications
Disclaimer
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.