Long BTC. Short SPX.
Very interesting correlations can be observed between BTC and SPX . Comparing prices of BTC , SPX , and SPX-BTC we see SPX went against the trend last week: it gained this week while SPX-BTC dropped. SPX is overdue for a drop to 2440 where it will complete a major HS pattern based on Highs. This will cause it to further plummet and continue the observable trend.
Very interesting correlations can be observed between BTC and SPX . Comparing prices of BTC , SPX , and SPX-BTC we see SPX went against the trend last week: it gained this week while SPX-BTC dropped. SPX is overdue for a drop to 2440 where it will complete a major HS pattern based on Highs. This will cause it to further plummet and continue the observable trend.
Note
Put Fib channels in wrong spots. SPX had its first wave in 2013, third about June 2015, and recently had fifth. Now doing ABC down.
BTC has its third wave December 2017 and recently finished corrective wave 4. Commencing Wave 5 up.
Note
Goodness I’m sloppy today. Updating on mobile. SPX Wave 1 was in 2012.Note
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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.