ביטקויןשורט
BTCUSD/SPX RATIO
Without zooming out to higher timeframes, one could see a rising bull pennant formation with a closeout date of approximately Dec 2022 - assuming BTC breaks to the upside 3/4 of the way through the price squeeze.
And even though BTC follows SPX in direction/price action, we can see that before the Oct 2020 swing low (start of the major bull run), BTC oscillated back and forth in a rising channel, until it broke out.
BTC needs that full reset/capitulation to the $28-30k level before we take off again. If this occurs, we can see the multi-month rising pennant will be invalidated, find a fresh bottom on the support bands shown, taking off again, and blasting through the line of resistance.
Now: Queue every permabull "trader" on Crypto Twitter who's been liquidated for the last 4 months in my comments section:
"Send it!!!...." "....to 150k...."
Keep dreaming young man.
And even though BTC follows SPX in direction/price action, we can see that before the Oct 2020 swing low (start of the major bull run), BTC oscillated back and forth in a rising channel, until it broke out.
BTC needs that full reset/capitulation to the $28-30k level before we take off again. If this occurs, we can see the multi-month rising pennant will be invalidated, find a fresh bottom on the support bands shown, taking off again, and blasting through the line of resistance.
Now: Queue every permabull "trader" on Crypto Twitter who's been liquidated for the last 4 months in my comments section:
"Send it!!!...." "....to 150k...."
Keep dreaming young man.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.