More downside risk BTC and upside risk VIX

BTC has formed a Shoulder-Head-Shoulder pattern with a downside target between 75,000$ to 78,000$, i.e. the 1.618 and 1.414 Fib-extensions. As price has passed the 0.618 Fib, the next resistance level is the 0,786 Fib.

What does it mean with reference to VIX (see my previous posts on it)? As the VIX and BTC have an inverse price relationship, we can expect a higher VIX.

Prepare yourself if you are long stocks - it could be a rough ride the next few weeks ......