resuming my last post, I tried to figure out a reasonable flagpole extension to determine a short trading target for S&P 500 against BTC.
If we exclude a drop to zero (which IMHO could only happen in a full blown world war III scenario and not even then), the flagpole in the chart indicates a drop to around 2 BTC cent.
Inversely, if S&P 500 drops to 2 BTC cent in the months ahead, while S&P can retain much of it's current value in USD or can even grow, when measured in USD, we know much about the future fate of USD.
If we exclude a drop to zero (which IMHO could only happen in a full blown world war III scenario and not even then), the flagpole in the chart indicates a drop to around 2 BTC cent.
Inversely, if S&P 500 drops to 2 BTC cent in the months ahead, while S&P can retain much of it's current value in USD or can even grow, when measured in USD, we know much about the future fate of USD.
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.
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.