I didn't realize how technical this spread is. Bitcoin looks like its ready to break up and get back into the long term rising channel.
Very clear divergence with the RSI. SP500 ready to go back down and test the 200DMA. Will it hold this time?? I'm not so sure!
This is the only line im looking at. Everything else is noise. And given we are getting closer and closer to the halving, I dont think we'll break below this line.
Based on previous trends, this is my hope for Bitcoin Christmas 2021.
Markets will always remain irrational longer than we think possible. Most think $6000 is the floor. In my opinion, irrationality will push it down to $4500.