Bitcoin – Feb. 21, 2021

Bitcoin seems to be tracking the overall market (after all, everything else is moving in virtual lockstep). I don’t follow bitcoin, but I expect it to tank as the market does. The overall pattern is corrective.

Above is the 7 day chart of NYXBT. The pattern looks like a zigzag, which is corrective. It also now appears to be moving with the overall market. If so, we may see weakness over the next couple of weeks in a fourth wave and then one final wave to a new high.