BTC.D vs SHORTS vs TOTAL3 correlation chart
this chart has been very helpful for me and wanted to share it. If you haven't, I suggest u consider looking at correlations in between sectors or typically inverse pairings such as gold vs USD. These relationships can be very helpful to see rotations or divergences, which can coincide with reversals. Also helps to see which asset will take the leadership role
We see in this chart that as the btc shorts kept falling alts kept up the rally which is def supported with BTC.D falling as well. It can also explain why BTC isn't going higher yet as this shows $$ is flowing into alts as BTC.d continues to fall even though shorts backed off BTC awhile ago
We see in this chart that as the btc shorts kept falling alts kept up the rally which is def supported with BTC.D falling as well. It can also explain why BTC isn't going higher yet as this shows $$ is flowing into alts as BTC.d continues to fall even though shorts backed off BTC awhile ago
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