mongo1337

Is Bitcoin, Home Depot??! Bearish Case for BTC.

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
Found this 5-wave EW setup that makes BTC look very similar to HD's chart of the past. Bearish $1-2k case.
Comment: Crypto Twitter and overall sentiment seems to be abnormally bullish. Especially when price continues to make lower highs and lower lows.
Comment: Both have are on the 11th down candle from their respective peaks.

Reasoning for HD being on 3 month and BTC on 1 month: Crypto trades 24/7, roughly 3 times faster than stocks... :D

If it follows similarly, should put BTC at $1700 by October 2020.