BITCOIN: What's driving it? Is 30,000 in sight?In this video I show my theory on what's probably happening with BTCUSD.
It appears that Bitcoin is being used to hedge against the US Dollar crashing.
$22,000 is certain in sight and who knows it could get to $30,000 sooner than anyone might imagine.
I still think that BTC is too volatile for my liking and therefore I've stayed out. I've been happy to avoid FOMO. I've lost nothing.
I think that many will profit from a possible further charge north. But there is also still a risk that it BTC could reverse significantly.
Best wishes for the Christmas period 🎅and have a Happy Prosperous New Year. 🥂🎁
Correlation
All indices move the same way!!..Or do they??**PLEASE FAST FORWARD TO .35sec MARK!**
I wanted to give a quick lesson on correlation.
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S&P500 v DXYI'm throwing this up for discussion. The three key areas of the chart seem to show that a fall in the DXY is followed by sound recoveries in the S&P500.
Be careful though, because I'm NOT saying that the weak DXY causes the S&P to rise like a phoenix.
It's a community so I welcome different perspectives on this.
CNY, AUD and NZD correlations explained !The reasoning behind this very important set of correlations!
