I noticed something in the bitcoin chart I wanted to share.
If the pattern repeats, we could see another big drop in bitcoin soon.
BITCOIN CORRELATION: Prices broke critical support after the Terra Luna collapse and consolidated for 30 days before entering a true capitulation.
I see a similar setup after the FTX collapse: the initial news event broke critical support, and prices have been consolidating for almost 30 days.
A breakdown below $15000 in December would support a capitulation event towards the $10,000 area.