Btc similarities between this correction and May
Diupdate
It is said that markets don't repeat, but they rhyme. From my perspective we can clearly see this between last May's correction and now. Of note is the lack of volume on the current correction, which makes sense knowing that we are seeing whales hold onto their positions. And the time frame on the current correction is slightly compressed vs. May-July.
It appears that we may now be at the equivalent of the June 21 candle, so could see a wick down to the red 200 ma, or today's candle may be the equivalent if we see a rally into the close.
The DXY also looks to be making a leg down, which would enforce this idea.
It appears that we may now be at the equivalent of the June 21 candle, so could see a wick down to the red 200 ma, or today's candle may be the equivalent if we see a rally into the close.
The DXY also looks to be making a leg down, which would enforce this idea.
Catatan
I forgot to mention next weeks FED meeting at which time I expect them to sound dovish based on the variant of the day and support risk on assets.Catatan
I also forgot to mention that everybody and their mother was calling a head and shoulders in the May-July correction, just like now.
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