The selloff that started after last week’s Fed announcement is continuing. I see the potential for a flash crash in May.

Bitcoin and Ethereum are below critical support levels and could drop further and faster. The price action over the next few days is key.

Bitcoin Technical Analysis and Price Forecast

BTC/USD Daily chart: A potential breakdown below the neckline of a skewed head and shoulder top. I think the left shoulder is higher than it would have been otherwise if we didn’t get so much free covid money in 2020 & 2021.

Ethereum Technical Analysis and Price Forecast

ETHEREUM Daily chart: Prices are breaking critical trendline support. I see the potential for a sharp move lower.

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For regular updates, please visit here.

This article was originally posted on FX Empire

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