found a very interesting fractal from $spx before the 08 crash that is remarkably similar to $btc's price action, suggesting the bottom is very close to being in and we have lots more to go. fractals don't always pan out but this is too striking to ignore. 🧵1/
@CredibleCrypto Do you think a scenario can happen where the BTC.D crash happens as BTC continues to unwind but alts remain steady since so many of them are at macro range lows?
@matthughes13 Not sure what time frame this is on. But let’s say it’s a 4H chart. There is a market structure break signalling a potential bullish reversal but if we were to zoom out to D chart it would be bearish.
@Sykodelic_ I just don’t get it. “Price has bounced off of support multiple times, it’s not going to hold, bears will win. “Price has rejected off of resistance multiple times, it’s holding very strong, bears will win”. How do i reconcile this?
@TraderJBx I agree - and I see see us topping around 130/140k max before the true dump begins. Won’t be enough for me to sell my bags and so I’ll bag hold until next cycle
@TraderJBx I tried leveraged ETFs and got rinsed. My BITU and ETHT positions are dead. If we chop for a year before the demise, the vol decay really starts to eat the position