Annoying BITCOIN And SPY-Comparison! You WILL believe THIS!
Updated
Hey Friends <3
Once again - as this nerd I am - I tried to compare SPDR S&P 500 with Bitcoin. Also here we can see some interesting similarities on the charts.
- Bull run in December/January
- Double bottom
- Double top
- Spike out from Downtrend Channel (LOG-scale)
And what happened hereafter with SPY? A crash down back in the downtrend channel. Let me just make it super short!
1. I know we all really want Bitcoin to moon, but just be careful, guys. We are not in an uptrend yet - We are still in a bear market, UNTIL WE REACH 11,700 USD!! Again: I'm not saying we will crash like we did in 2014. And I'm not saying, that we will go back in the downtrend channel again. Just keep it in mind, that it can happen, and don't fool your self.
2. I truly believe in Bitcoin and cryptos in the long run. It is possible to be bullish short term, bearish midterm, and super bullish long term! I'm not trying to create any kind of FUD. If it was up to me, I would hope BTC would be 1 mil. USD tomorrow. I'm trying to be realistic, and I'm trying to help you out, so you don't FOMO into something.
D4 Cares about You <3
Please leave a LIKE for the hard work, I put in making charts every day here for you guys on TV. And have a nice day :)
Once again - as this nerd I am - I tried to compare SPDR S&P 500 with Bitcoin. Also here we can see some interesting similarities on the charts.
- Bull run in December/January
- Double bottom
- Double top
- Spike out from Downtrend Channel (LOG-scale)
And what happened hereafter with SPY? A crash down back in the downtrend channel. Let me just make it super short!
1. I know we all really want Bitcoin to moon, but just be careful, guys. We are not in an uptrend yet - We are still in a bear market, UNTIL WE REACH 11,700 USD!! Again: I'm not saying we will crash like we did in 2014. And I'm not saying, that we will go back in the downtrend channel again. Just keep it in mind, that it can happen, and don't fool your self.
2. I truly believe in Bitcoin and cryptos in the long run. It is possible to be bullish short term, bearish midterm, and super bullish long term! I'm not trying to create any kind of FUD. If it was up to me, I would hope BTC would be 1 mil. USD tomorrow. I'm trying to be realistic, and I'm trying to help you out, so you don't FOMO into something.
D4 Cares about You <3
Please leave a LIKE for the hard work, I put in making charts every day here for you guys on TV. And have a nice day :)
Note
Let's take a closer look - Look how the different months are matching with the same patterns on both charts!I'm just saying... No FUD - Only Love <3
Note
Looking at the indicators, there are no doubt that Bitcoin is doing better than SPY. As you can see, where Bitcoin managed to break the RSI Resistance Level 60, SPY failed.Also BTCs MACD looks better. SPY's bulls has clearly lost momentum where Bitcoin's bulls are fighting to the last.
When that is said - Bitcoin is still in a downtrend. The RSI also shows the hidden bearish divergence, which is a continuation pattern, which means we will most likely continue down. But who knows - We might be surprised.
Let's hope for Bitcoin though - D4 <3
Note
Ill just put this chart up, because it would indeed be scary if we some how crashed, as we did in 2014 exactly where I calculated it would happen from here in 2018.Look at my yellow dots! Let us not hope it though!
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