On the above 1-day chart price action on the Volatility index finds support on previous resistance. The last time this occurred the markets crashed hard back in February 2020. Is history about to repeat itself?
If history is about to repeat it might be an idea to have a good cash position over the next couple of months. Gold & Bitcoin are/were not an option.
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Vol tests the 21-day moving average just as before (orange circles).
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Very much still in play - and a good reason to stay in cash for the moment.
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Will close this idea now. The Fractal absolutely nailed the market correction. This was the best moment to remain in a strong cash position.
Right now the opposite is true. Will publish a new idea on the Patreon site.
That time, it was virus, this time it needs a "worse news" to happen
without_worries
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@susta, Robbin-hood investors no longer receive their stimmy?
susta
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@without_worries, if what you mean is stimulus check, $600 may be taken as bad news and may cause a drop as you said but i expect worse news than that. By the way "M" formation is almost visible in your chart
without_worries
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@susta, My impression is it'll be money related rather than virus. Many many people are not paying their rent / mortgage for months now. Something has to give.
susta
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maybe a good time for an update. CBOE:VIX (VOLATILITY S&P 500 INDEX) would be better, i guess
Good choice on BSV - price action sitting on the 600-day moving average - it surely does not break that?!
vishweshwaran26
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@without_worries, Thank you. I think it will rise high after BTC goes to 36K. Not sure. If it goes high, DASH follows. Then ZCash. :D I am glad that Grayscale and Gemini trust funds hold ZCash in their portfolio. The coin is the most underrated in my opinion, just like Dash. However, DASH doesn't enjoy ZCash's high institutional / future / margin support from trusts and exchanges. Come on BSV!!!!!!!!!
susta
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10min ago i wrote a comment and it has gone, it is a T.V. tradition. 3 days later we can be sure. the reason could be DXY?