Volatility Index fractal?

On the above 1-day chart price action on the Volatility index finds support on previous resistance. The last time this occurred the markets crashed hard back in February 2020. Is history about to repeat itself?

If history is about to repeat it might be an idea to have a good cash position over the next couple of months. Gold & Bitcoin are/were not an option.

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Vol tests the 21-day moving average just as before (orange circles).

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Very much still in play - and a good reason to stay in cash for the moment.

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Will close this idea now. The Fractal absolutely nailed the market correction.
This was the best moment to remain in a strong cash position.

Right now the opposite is true. Will publish a new idea on the Patreon site.