Usually, there will be a tight correlation between Ethereum and Bitcoin, especially during volatile periods like back in 2017 - 2018, 2020 etc... But as of recently, we have been seeing the correlation of ETH and BTC dissipated as the years has gone on leading me to believe that a major shift is inbound......
However, when studying price action in the short term, there is a possibility for BTC to draw to the upside, attacking the $86,847.
However, when studying price action in the short term, there is a possibility for BTC to draw to the upside, attacking the $86,847.
Trade closed: target reached
Low hanging fruit of $86,847 has been met today.
$88,575 is the current highs for the week. Will BTC continue to rally higher??
As my bias has already panned out, i will be sitting on my hands until i witness more bullish signatures.
I am also open for a retracement back down into a discount PD array.
Note
end of week price action
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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.