1. The previous monthly candle failed to close above the monthly ichimoku cloud. It is natural that it is very difficult to braek out the monthly kumo cloud.
The price of Bitcoin had reached the ceiling of the ascending channel, where it was accompanied by a SHORT signal.
Last week, in Daily timeframe the trendline had broken down, and yesterday the pullback was completed, and today it went down to the top of the komo cloud.
The market has been trading under the top trend line for some time, not causing a crash. These arguments are just superficial. The real cause lies in the price data directly. The rally was the fifth wave of a leading diagonal, and these most often retrace deeply or entirely.
Bullishway1
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@unbeldi, Hi , a ten percent correction of the price in one day is a big fall, the reason for which I mentioned.
unbeldi
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No, the reason was that the prior gain was a leading diagonal, which usually is reversed. 10% or not, is irrelevant. It happens on all wave degrees.
unbeldi
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So, yes, it was predictable, but not for your reasons.
Bullishway1
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@unbeldi, Thank you for your opinion. You did not understand what I meant. My analysis does not mean that the correction is continuous. Just the reason I predicted for this correction happened