2 alternatives of BTC next price move + Bullish fundamentals
2 patterns BTC is used to repeat:
- Bullish:
after a bullish strong break out, it tends to make a fake out to the last minimum to continue bullish
- Bearish:
After Bullish break out, it tends sometimes to make a triangular compresion, after it re enters to the previous lateralization
Fundamentals:
1. Its correlation to altcoins reveals some of them already made an stronger bullrun during lasts 2 weeks (ADA, LINK, ETH, etc)
Following the historic correlation, it tends to alternate a BTC bullish move with ALTs bullish moves... If Alts already made their move, then it's BTC turn to move.
2. Gold correlation, tends to be effective during uncertainly situations... Now we are in uncertainly with macroeconocmic situation and US inflation...
Gold already moved up (as a refuge asset behavior), then BTC could take the same behavior in response to situation
- Bullish:
after a bullish strong break out, it tends to make a fake out to the last minimum to continue bullish
- Bearish:
After Bullish break out, it tends sometimes to make a triangular compresion, after it re enters to the previous lateralization
Fundamentals:
1. Its correlation to altcoins reveals some of them already made an stronger bullrun during lasts 2 weeks (ADA, LINK, ETH, etc)
Following the historic correlation, it tends to alternate a BTC bullish move with ALTs bullish moves... If Alts already made their move, then it's BTC turn to move.
2. Gold correlation, tends to be effective during uncertainly situations... Now we are in uncertainly with macroeconocmic situation and US inflation...
Gold already moved up (as a refuge asset behavior), then BTC could take the same behavior in response to situation
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.