BTC Dominance (Y20.P1.E7).Cup&Handle.Target

Hi All,

If I'm not mistaken, BTC is about to go bullish, if GOLD has anything to do with the relationship.
I have 2 point of interest for entry. 7450-7550 or bottom of the channel (to be retested). In my next post I will explain what are the 2 significant point of entries.

GOLD TA
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It looks like GOLD is also about to go up, bounce of this support. From what I can see on Gold on the DAILY, very bullish signs.
This might equate to BTC breaking the channel as well.

Please don't forget to give me a tick\like, as I would appreciate it.


Regards,
S.Sari /CryptoProspa

Comment:

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The correlation between gold and bitcoin has reached its highest levels since August 2016, according to a new study.

Arcane Research, a cryptocurrency-focused data analysis firm, noted a steep direct proportionality between the two rival assets. In a report published on Friday, the firm mentioned that the correlation was “below zero just half a year ago” but strengthened to 0.3 to retest its three-year high.

“This will without a doubt strengthen the “digital gold” narrative for bitcoin,” the report added.



www.newsbtc.com/2020...-highest-since-2016/

Comment:

The DAILY candle looks bullish, the RSI has plenty of room to the upside. On the BB band, its at the top which is why there was a sell off however the engulfing daily candle makes a strong case. At the time of doing this, there is 32 minutes left for the 24 hr candle to close.

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12 minutes to go to close above the EMAs

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not looking good for the short term

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Details, large 30 min chart

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My suspicion, target is 8800, but first we need a reversal here

Order cancelled:

Got it wrong