🔥 Bitcoin Following Stock Market Double Crash Fractal?
Bitcoin is currently in the middle of a very strong correction, with this week being the most volatile (bearish) week we've got since the May-21 correction. Yet, the correction might go even deeper.
It has become apparent that BTC is following a pattern that we've seen before in recent history. When you look closely you can clearly see that BTC is mimicking the stock market from 1997-2009.
A double top, correction, and reversal which was slightly deeper than the previous support, making a fake-out.
After this fake-out, a massive reversal took place, which stocks have been enjoying for over 13 years now.
This is a highly subjective analysis. For a start, the SP500 chart is based on monthly candles where the BTC chart is on weekly candles. Not saying that we're going to exactly follow this pattern, but it offers a decent long-term perspective nevertheless.
Happy trading!
It has become apparent that BTC is following a pattern that we've seen before in recent history. When you look closely you can clearly see that BTC is mimicking the stock market from 1997-2009.
A double top, correction, and reversal which was slightly deeper than the previous support, making a fake-out.
After this fake-out, a massive reversal took place, which stocks have been enjoying for over 13 years now.
This is a highly subjective analysis. For a start, the SP500 chart is based on monthly candles where the BTC chart is on weekly candles. Not saying that we're going to exactly follow this pattern, but it offers a decent long-term perspective nevertheless.
Happy trading!
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
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.