BTCUSDT - FRACTAL Shows Parabolic Move Soon

19 May 2023

Hi Traders, Investors and Speculators of Charts📈📉

Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year 🏫

On the charts I have a fractal of the BTC chart from 2020. We see a very similar pattern : two topouts, a regressions channel followed by a short term rally leading to a bearish H&S pattern on the daily. Previously , the price of BTC drops -18%. If we were to use that same percentage, that gives us a rough target of 24.5K which corresponds with my recent update on Bitcoin where I'm short until 25K.

We have some strong arguments here for a short term bearish move after which the 2020 fractal was followed by a parabolic increase.

I'm expecting to see some volatility this weekend as the fractal continues to play out.

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20 May 2023

Not

Expecting more volatility for the weekend.

21 May 2023

Not

We now have 3 confirmations for a drop in price short term:
1) Fractal from 2020
2) H&S pattern top out in daily
3) Classic bearish flag in daily:


By all probability, short is the most logical way to go if you value trading patterns and fractals.