NVIDIA & Bitcoin

7 ביולי

We are interested in the NVDA stock due to its close correlation with Bitcoin, when it comes to price action.

➖ NVDA produced a top, clearly, 20-June.
After this top it consolidated a little bit and on the 3rd of July produced a full green candle but with no volume.

➖ On the 5th of July we have a red-candle. This red candle produced a lower high and happened right at resistance.

👉 These signals based on candlestick patterns point toward a new drop/down-move starting next week. This would indicate and support a down-move on Bitcoin's side based on the positive correlation between these two assets.

That's all for today.

Thank you for reading.

Namaste.