Well if we take out the USD inflation from bitcoin we will get clear view of the chart.
in that case bitcoin is looking very bullish.
we can see massive bullish divergence on daily / weekly chart.
i am basically dividing the bitcoin price by dollar index and then multiplying by 100.
this chart looks more cleaner than bitcoin / usd chart. since the inflation is minus so we can see clear chart. i believe bitcoin is going to breakout of that pattern and we will se atleast 27k this month.
in that case bitcoin is looking very bullish.
we can see massive bullish divergence on daily / weekly chart.
i am basically dividing the bitcoin price by dollar index and then multiplying by 100.
this chart looks more cleaner than bitcoin / usd chart. since the inflation is minus so we can see clear chart. i believe bitcoin is going to breakout of that pattern and we will se atleast 27k this month.
Comment:
tomorrow is the day when they will release cpi report so if news is not in the favor of the market this idea will invalidated :) and checkout my recent idea :)