How BITCOIN Now Repeats The 2020 Corona-Crash-Dynamics!

Hi Cryptocurrency Community,

in the recent Bitcoin-Crash we have seen Bitcoin almost crashing down over 30% and losing nearly 20K in price-value, this was a heavy dump which we have seen on the daily chart with Bitcoin and it nearly send shock-waves out through the crypto community, this dump was not only technical also fundamental developments were pivotal for the traction in this dump as we have seen the regulatory pressure increasing and several countries launch more restrictions against Bitcoin. Although this dump was heavy on the daily chart Bitcoin had similar such dumps in the past already, one historical highly devastating dump was the 2020 Corona-Crash-Sell-Out in which the Corona-Pandemic shocks through all financial asset-classes caused a chain-effect and was the origin of the heavy bearish downside price-pressure we have seen catapulting Bitcoin from 10.000 USD to almost 4.000 USD. Prior to this crash, we have seen some very similar developments as we can see now with Bitcoin actually setting up the whole heavy dump before with the wave-count-structure, it is likely that insiders always had their hands in this development and therefore I am looking at the current dynamic and as I discovered Bitcoin is forming some very similar movements that can indicate the further developments.

Bitcoin Corona-Crash-Dynamic-Repetition:
Looking at my chart we can watch there on the left side the actual chain-effect Bitcoin set-up before the heavy corona-crash-dynamics showed up and pulled Bitcoin to the downside. This was all set up by a first downside-impulse marked in my chart in orange with the number (1), after that Bitcoin moved into a sideways-consolidation marked in blue with the number (2), and once this sideways-consolidation ended Bitcoin showed up with the heavy-dumping-phase on the corona-crash-pressure marked with the number (3) in red. Once the corona-crash-dumpings finished Bitcoin managed to recover above previously established resistance-trend-lines marked with the number (4) in green. Looking at the right side of the chart now we can watch these very similar developments already established with the phases (1) to (3) already completed and as Bitcoin now initially bounced in the main support-ascending-trend-line marked in blue this has a high likelihood to be the origin of the phase (4) the same way as we have seen it back in May 2020 with the corona-crash-dynamics. In this case, when Bitcoin bounces above the descending-trend-line in grey we can expect phase (4) to fully develop, after that it has to be shown how Bitcoin moves on and if Bitcoin manages to recover and move on similarly as we have seen it after the corona-crash-dynamics.

Upcoming Determinations:
Taking all these factors into the consideration nowhere it will be necessary to keep patient and to keep calm to await on how Bitcoin potentially continues with the recovery that should be expected in phase (4) of this whole dynamic. This is always a central philosophy which we also managed to execute in the Elite VIP Crypto Channels as we executed great trades on the short-side with BTC, ETH as well as in the Altcoin Section, therefore from a trading perspective when such volatilities come up in the market we need to be not panicky, in such situations we should see the opportunities within the market and do not hesitate to overspeculate the market. For now, Bitcoin has some high possibilities given to actually complete this whole fractal similarly as it was seen in 2020 however therefore it is important that Bitcoin actually continues with the right confirmations that are necessary as already suggested otherwise when this does not happen such a formation can also invalidate. From a fundamental perspective it is essential that governments not overregulate the cryptocurrency space and on the other side better embrace this newly innovational technology and actually lie the right grounds for a further technological development of Bitcoin and cryptocurrency, it will be an important journey ahead.

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Information provided is only educational and should not be used to take action in the markets.