Reflecting back: the patterns that predicted a BTCUSD crash
Nothing is easier than tracing back patterns that we "should" have seen, because one can always make a case for either bullish or bearish patterns; patterns are not the driving force of a market but just a measure for its momentum and sentiment. Additionally, the news around Elon Musk and China could not have been foreseen in the first place.
That being said, a clear rising wedge has been evolving since January 2021, followed by a bear flag. A case could also be made for a head and shoulders pattern; all indicating a target between 35000 and 42000. For those who missed out on a short opportunity like me, here is a small reflection back on this nearly 50% crash of bitcoin.
That being said, a clear rising wedge has been evolving since January 2021, followed by a bear flag. A case could also be made for a head and shoulders pattern; all indicating a target between 35000 and 42000. For those who missed out on a short opportunity like me, here is a small reflection back on this nearly 50% crash of bitcoin.
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