🅱️ Bitcoin, The Stock Market (SPX, NDX, DJI), USDT.D & Altcoins
Updated
I like to browse through charts between different markets in the search for confirmations and correlations.
One of my favorite types of confirmations is Bitcoin and the Stock Market.
We know that these have been moving together but Bitcoin is leading the way.
While the SPX is still below its August 2022 high, Bitcoin already broke that price...
Let's have a closer look:
💾 SPX Closes On Strong Bullish Bias +Bitcoin & Bank Crisis
Notice how in the chart above the SPX bounces exactly in mid-March.
On Friday it closed full green with a 10-months high.
The RSI is really strong and all looks good.
If the correlation continues then we are set to start this week green.
Unless the SPX and the rest of the charts I will show you below crash on Monday.
Then we have the Nasdaq, it is the same situation.
Bitcoin has been consolidating but the NDX went ahead.
This alerted me of the SPX moving forward and the rest of the markets as well... See the chart:
💾 Nasdaq Went Ahead | Next Target Above 15,555
The NDX hit a more than a year long high when it peaked around its April 2022 resistance.
Not actually peaked, this is a new bullish breakout just taking place.
The week closed full green.
I am thinking that Bitcoin is set to follow unless the NDX crashes on Monday but so far it looks good.
The DJI stood behind.
While it is trading below its August 2022 high this level has been challenged continually and we know that it will follow the other two indexes, they always move together.
Last week closed full green above EMA10 and EMA21.
See the chart:
💾 DJI
Then we have the inverse correlation with Tether Dominance, USDT.D and this one is a bit more tricky because of the mixed signals.
First, the chart:
Favoring the Bitcoin bulls, we have more than a year of lower highs and what seems like a distribution phase, volume dropping since May 2021, two years.
Weaker signals in favor of the Bitcoin bears is the fact that the weekly session is still trading above EMA10 and EMA21.
We also have the Altcoins that we can use.
What one does, the rest follows; that's one for the bulls.
We also have some smaller pairs and ALTSBTC pairs growing, something not seen when in a bearish phase.
Look at XRPUSDT, it went ahead: ✴️ Ripple's XRP Inverse Head & Shoulders Confirms Higher Low
Litecoin is on a similar situation.
We have pairs such as ChainLink and EOS whom went through a full correction and this is kind of mixed.
If what one does the rest follows, it can mean that Bitcoin is yet to go through this huge correction or that these pairs being weaker dropped more than the stronger ones.
When we take all the signals in consideration, the bulls are on top.
Of course, this doesn't mean anything if you are looking at the short-term... When focusing on the bigger picture, Bitcoin is set to continue growing, higher highs and higher lows in the weeks and months ahead!
Thank you for reading.
I am wishing you a lovely Sunday... Or Monday if you read this after today.
Namaste.
One of my favorite types of confirmations is Bitcoin and the Stock Market.
We know that these have been moving together but Bitcoin is leading the way.
While the SPX is still below its August 2022 high, Bitcoin already broke that price...
Let's have a closer look:
💾 SPX Closes On Strong Bullish Bias +Bitcoin & Bank Crisis
Notice how in the chart above the SPX bounces exactly in mid-March.
On Friday it closed full green with a 10-months high.
The RSI is really strong and all looks good.
If the correlation continues then we are set to start this week green.
Unless the SPX and the rest of the charts I will show you below crash on Monday.
Then we have the Nasdaq, it is the same situation.
Bitcoin has been consolidating but the NDX went ahead.
This alerted me of the SPX moving forward and the rest of the markets as well... See the chart:
💾 Nasdaq Went Ahead | Next Target Above 15,555
The NDX hit a more than a year long high when it peaked around its April 2022 resistance.
Not actually peaked, this is a new bullish breakout just taking place.
The week closed full green.
I am thinking that Bitcoin is set to follow unless the NDX crashes on Monday but so far it looks good.
The DJI stood behind.
While it is trading below its August 2022 high this level has been challenged continually and we know that it will follow the other two indexes, they always move together.
Last week closed full green above EMA10 and EMA21.
See the chart:
💾 DJI
Then we have the inverse correlation with Tether Dominance, USDT.D and this one is a bit more tricky because of the mixed signals.
First, the chart:
Favoring the Bitcoin bulls, we have more than a year of lower highs and what seems like a distribution phase, volume dropping since May 2021, two years.
Weaker signals in favor of the Bitcoin bears is the fact that the weekly session is still trading above EMA10 and EMA21.
We also have the Altcoins that we can use.
What one does, the rest follows; that's one for the bulls.
We also have some smaller pairs and ALTSBTC pairs growing, something not seen when in a bearish phase.
Look at XRPUSDT, it went ahead: ✴️ Ripple's XRP Inverse Head & Shoulders Confirms Higher Low
Litecoin is on a similar situation.
We have pairs such as ChainLink and EOS whom went through a full correction and this is kind of mixed.
If what one does the rest follows, it can mean that Bitcoin is yet to go through this huge correction or that these pairs being weaker dropped more than the stronger ones.
When we take all the signals in consideration, the bulls are on top.
Of course, this doesn't mean anything if you are looking at the short-term... When focusing on the bigger picture, Bitcoin is set to continue growing, higher highs and higher lows in the weeks and months ahead!
Thank you for reading.
I am wishing you a lovely Sunday... Or Monday if you read this after today.
Namaste.
Note
Friendly warning/reminder to all my followers and supporters... Bitcoin is about to resume growing.The SPX went up.
The NDX went up.
The DJI went up.
TSLA went up all as predicted...
Bitcoin is next in line.
Short-term movements are just noise.
The bigger picture is up.
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
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.