Updated

Updated traditional market (SPX) normalised Bitcoin (XBT) Chart

Now that a new somewhat trending market structure is starting to form after the recent "blackswan" triggered dump correlated to the tradition markets, here's a re-look at the SPX normalised Bitcoin chart to look out for bullish decoupling in a time where the traditional market remains bearish.

In summary, for BTC to switch into a bullish "decoupling" phase wrt to the traditional market, the ratio needs to at least break up above the Ichicloud and finds support; at least that is where I will set my buy in point (at around 2.36, and then stop-loss at below 2.09 after).

See initial look and discussions on this experimental analysis attempt:

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See also: SPX chart analysis

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Traditional market still looking bearish long-term. But somewhat bullish on the shorter term (dipped too fast, expect to see a Hooke's Law, F = -kx effect about the SMA equilibrium) too -- ready for a plausible fakeout higher with the economy having just been fed [pun intended] a massive amount of potassium enriched banana galore!

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Update:
XBT/SPX now above the red historical support/resistance zone, and approaching the top of the Ichicloud.
Very slowly cautious cost-averaging into BTC with stop-loss set at below the ichicloud.

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CYBER ENSEMBLE also flashes blue "BUY" signal.

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Also, the ratio been finding support above the 4hrly 50-candle SMA.

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i.e candles supported by the green line over the past 4 candles.

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20Mar'20 XBT/SPX update:

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