BITCOIN Is last Friday's flash crash similar to COVID's?

Bitcoin (BTCUSD) made a strong flash crash last Friday following President Trump's tariff threats to China. That brought back memories of the March 2020 COVID crash. But are those that similar??

Quick answer: strength/ aggression wise no. Last Friday's crash marked 'just' a -18.34% decline from its top on a week basis. COVID's crash, which was longer admittedly, pulled the price down by -62.95% from February's 2020 High. Massive difference in market psychology and dynamics (even though we may have not seen the last of the current Tariff Crash). And that is the reason one chart is on the 1D time-frame and the other on the 1W time-frame.

However this is the exact reason that they look so similar in technical structure. As you can see both started on a Lower Highs downtrend, which broke to the upside that led to the eventual crash that broke below both the MA50 and MA200 (blue and orange trend-lines respectively). Even their RSI structures are similar.

The COVID crash taught us that as long as the MA200 closed the candles above it, a massive rally was sustained to new Highs. If the same structure is followed on the current fractal, we may see BTC rising by as high as $150k.

So what do you think? Do those two crashes share similarities that can justify a market recovery now? Feel free to let us know in the comments section below!

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