The Signalyst got me thinking, what if we repeated November 2018
The Signalyst just published an excellent review of monthly drops comparing May 2021 to November 2018.
That got me thinking what would that current pattern look like compared to our current price level. Crudely mapped out, over the next six months to the next ATH there would be additional pullbacks and we would ATH in mid-to-late November at just under 100k.
Just something to consider and not at all scientific. Though the activity does look very similar and would interact with the current resistance levels that I had previously drawn out.
That got me thinking what would that current pattern look like compared to our current price level. Crudely mapped out, over the next six months to the next ATH there would be additional pullbacks and we would ATH in mid-to-late November at just under 100k.
Just something to consider and not at all scientific. Though the activity does look very similar and would interact with the current resistance levels that I had previously drawn out.
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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.