Cronos (CROUSD) has fallen more than -68% since its March 28 High and is currently consolidating after a rebound on oversold 1D RSI. Being in a Bear Cycle since the November 23 2021 High, this pattern resembles Bitcoin's 2018 Bear Cycle. Notice the similarities.
Following their blow-off tops and the initial drop that followed, both have consolidated within a Descending Triangle of Lower Highs and when the Support broke, they went into 1D RSI oversold (below 30.00) area. Bitcoin bottomed higher on a -63% drop, marginally breaking the 1.5 Fibonacci extension. Cronos has so far marginally broken the 1.618 Fib ext on its recent low.
Is it repeating Bitcoin's 2018 Bear Cycle and if so can this be the bottom?
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Following their blow-off tops and the initial drop that followed, both have consolidated within a Descending Triangle of Lower Highs and when the Support broke, they went into 1D RSI oversold (below 30.00) area. Bitcoin bottomed higher on a -63% drop, marginally breaking the 1.5 Fibonacci extension. Cronos has so far marginally broken the 1.618 Fib ext on its recent low.
Is it repeating Bitcoin's 2018 Bear Cycle and if so can this be the bottom?
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Please like, subscribe and share your ideas and charts with the community!
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。