Hello,
Bitcoin is a commodity, even if a digital one, and as all commodities it tends to increase its price when the USD is weakening and it decreases when the USD strenghtens, all else being equal. So le't take a look at the BTC chart in another currency to have the picture clearer.
As we can immeditaly see, the distance from actual prices to after Halving highs is DOUBLED than what shown on the USD Chart. However, even on the EUR Chart, the pattern which is forming right now is bullish. The descending triangle is broken to the upside and the way it is being broken signals that it is not going to be a false brekout.
What do you think? Is the relative strenght shown on BTC due to external variables such as the USD or it is structural?
Bitcoin is a commodity, even if a digital one, and as all commodities it tends to increase its price when the USD is weakening and it decreases when the USD strenghtens, all else being equal. So le't take a look at the BTC chart in another currency to have the picture clearer.
As we can immeditaly see, the distance from actual prices to after Halving highs is DOUBLED than what shown on the USD Chart. However, even on the EUR Chart, the pattern which is forming right now is bullish. The descending triangle is broken to the upside and the way it is being broken signals that it is not going to be a false brekout.
What do you think? Is the relative strenght shown on BTC due to external variables such as the USD or it is structural?
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Or simply you don't want to risk it?
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Check it out now → ftmo.com/en/?affiliates=2427
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Are you a good trader but you lack the capital?
Or simply you don't want to risk it?
Trade forex, oil, crypto, indices, and keep 80% of the profits you make, while losses are covered!
Check it out now → ftmo.com/en/?affiliates=2427
Or simply you don't want to risk it?
Trade forex, oil, crypto, indices, and keep 80% of the profits you make, while losses are covered!
Check it out now → ftmo.com/en/?affiliates=2427
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.