Should we worry about the Flash Crash last night?
Updated
It has been sometime since I shared a chart but I thought this might be a fun one. I dont know if we should be worried or not. Just a few hours before it happened last night I was playing around on TV and put this together and afterwards, was completely expecting what happened. What I have done is compared the 2013 and 2018 bear markets to see how they compare. If you'll notice I have counted out all of the pivot points which align quite well actually. Specifically what I want to point out is that if there is any consistency with the cycle, pivot 15 is right where we are. If you'll notice, in the first week of November in 2015 on the 15 pivot, we saw a pullback to the 100 day EMA which is exactly what happened last night. The flash hit the 100 day EMA and quickly tried to bounce and has fought to stay above it since then. Right now that is what I am watching for. I want to see it maintain the 100 and if it can do that, this may be the start of what got everyone excited the last bull run. So at this point I'll remind everyone of the saying "Don't be Afraid". Stay cautious but don't be afraid...BTC is doing almost exactly what it did last time. I'll also note that when I was doing this I laid out the entire pattern as it happened and will share that chart in an update.
Note
Note
If the above were to play out and I was able to gloat when the time comes, Id at least give myself until X-mas of 2021 for it to play out completely because there would most likely be just a little bit of resistance there.....LOL!Note
This one has played out incredibly well....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.