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I see one more retest of the broken diagonal before we continue further up.
All eyes on the SPX vs. BTC correlation - The SPX is supposed to start topping out over the next week or two, while BTC is expected to start it's run. Is it finally time for the de-coupling? The same way SPX is showing life with the DXY so low, BTC is doing the same. It'll be interesting to see if bitcoin gets dragged down when the DXY bottoms out (anywhere from 92-93.8).
Keep a close eye on alts - the bitcoin market dominance is in the shitter, and the ETH market dominance just broke out. This could be one of those times where BTC and alts rally together, before the BTC retest from end of August to October. This would set everything up for a major run in the winter, similar to the way 2017 played out. Back then it was the BCH airdrop and ICO mania, this time around is the DeFi craze and the general weak USD-narrative.
Previous idea from April, which has been decently accurate:
All eyes on the SPX vs. BTC correlation - The SPX is supposed to start topping out over the next week or two, while BTC is expected to start it's run. Is it finally time for the de-coupling? The same way SPX is showing life with the DXY so low, BTC is doing the same. It'll be interesting to see if bitcoin gets dragged down when the DXY bottoms out (anywhere from 92-93.8).
Keep a close eye on alts - the bitcoin market dominance is in the shitter, and the ETH market dominance just broke out. This could be one of those times where BTC and alts rally together, before the BTC retest from end of August to October. This would set everything up for a major run in the winter, similar to the way 2017 played out. Back then it was the BCH airdrop and ICO mania, this time around is the DeFi craze and the general weak USD-narrative.
Previous idea from April, which has been decently accurate:
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