BTCUSD/SPX - Bullish Falling Wedge
Potential bullish wedge.
Could not hold the blue scenario.
On lower timeframe a bearish retest and we will continue to drop more?
Keep in mind this is a log chart.
(Maybe we will climb up again and the UST/LUNA scenario was a type of black swan event causing this in the first place, this chart shows how btc outperforms the stock market. With an enormous influx of negative news we could see this as some sort of black swan event.)
If stocks drop even more what will happen to bitcoin? In the past not seen before thats why we might see some type of bullish wedge of people dumping their bitcoin to secure more fiat. Longterm Bitcoin always outperformed greatly overall.
Could not hold the blue scenario.
On lower timeframe a bearish retest and we will continue to drop more?
Keep in mind this is a log chart.
(Maybe we will climb up again and the UST/LUNA scenario was a type of black swan event causing this in the first place, this chart shows how btc outperforms the stock market. With an enormous influx of negative news we could see this as some sort of black swan event.)
If stocks drop even more what will happen to bitcoin? In the past not seen before thats why we might see some type of bullish wedge of people dumping their bitcoin to secure more fiat. Longterm Bitcoin always outperformed greatly overall.
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.