Both on the chart indexed on the ETF QQQ (proxy for the Nasdaq index) and on the Bitcoin chart itself, we have a bullish divergence .
If Bitcoin breaks out of the yellow region at the 0.5 Fibonacci retracement , I believe it could go all the way to the top of the wedge , and then deliver the final sledgehammer down.
For a while Bitcoin had a decorrelation with QQQ .
I am hoping that there will be a compensation of this gap.
If Bitcoin breaks out of the yellow region at the 0.5 Fibonacci retracement , I believe it could go all the way to the top of the wedge , and then deliver the final sledgehammer down.
For a while Bitcoin had a decorrelation with QQQ .
I am hoping that there will be a compensation of this gap.
Comment:
The yellow zone:
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