Scary BTC fractal - potential drop to 31k
This prediction is based on comparison of price action from April/May 2021 to Oct/Nov 2021. And keeping in account MA50 and EMA20 moving averages on daily timeframe.
* Look at Higher Highs (HH)
* Look at Higher Lows (HL)
* Look at Lower Low (LL)
* Look at bearish cross over of MA50 and EMA20
Above are following exactly before the big May 2021 drop.
Now if following happens, we are up for a big big 51% crash. Fractal would be invalidated if BTC manages to make a Higher Lower (HH) instead of LH
* Potential LL is in making that would mean a drop to 50k - 27% drop as per April
* 26% Rebound to 50MA to $63500 - Lower High (LH)
* Fail to reclaim 50MA convincingly
Which would result is 51% drop to 31k.
* Look at Higher Highs (HH)
* Look at Higher Lows (HL)
* Look at Lower Low (LL)
* Look at bearish cross over of MA50 and EMA20
Above are following exactly before the big May 2021 drop.
Now if following happens, we are up for a big big 51% crash. Fractal would be invalidated if BTC manages to make a Higher Lower (HH) instead of LH
* Potential LL is in making that would mean a drop to 50k - 27% drop as per April
* 26% Rebound to 50MA to $63500 - Lower High (LH)
* Fail to reclaim 50MA convincingly
Which would result is 51% drop to 31k.
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