Here I will share my opinion about the mother of market crash, this is all about the global economy, I want to explain a little what is meant by michael burry, this has to do with elon musk and bitcoin.
Michael Burry once said: we will witness the mother of all accidents, in the midst of the greatest speculative bubble of all time. Then what does this mean?...
This is not yet an ascending triangle, we have to draw a line from the higher high to the higher low correctly, but there is a slope angle, so we have to look for a second supporting pattern, after we draw it there is a diamond pattern, meaning this confirms that the market will move down, if the price touches the Fibonacci area 0.5 / 35098$ the fomo guy thinks...
attention, Not financial advice
after the btc breakout of the falling wedge, we saw very high volume causing a slightly massive pattern move forward, maybe we could see an elliot wave and wyckoff pattern forming in the future, and the pattern I created based on previous support and resistance
Because it's the weekend, maybe BTC will experience a correction in the direction determined by Fibonacci, for our view we are currently entering the bull run phase because the previous bearish chart pattern was thwarted because we are now forming a double bottom and a falling wedge.
BTC was rejected at the 0.5 Fibonacci resistance area around $34337, and now wants to try to reach the 0.618 area, be careful bitcoin will experience a big decline first, after which it will continue the bull run cycle until the end of the year