The REAL Bitcoin market structure

Earlier today, I saw a chart of the BTCUSD/SPX chart on twitter. The structure of that chart is more accurate than the original BTCUSD chart.

And then I tested it by the same methodology but this time on SHCOMP (SSE Composite Index which is the Chinese stock market index).

The final formula is BITSTAMP:BTCUSD*FOREXCOM:USDCNH/

Here is where the magic happens:

This ratio chart shows a precisely clear triangle structure in 2018 and a double bottom in early 2019.

This result means that the money flow from China to the Bitcoin market leads.

Comment:

BTCUSD/SPX does not have that accurate price structure. But it shows the weakness of the BTC price in 2018, the trend is more clear than the original USD price chart.

Comment:

BTCCNH/SHCOMP finally reveal the real market structure of bitcoin.

Symmetrical triangle & double bottom.

Even a clear structure of the Wyckoff Model.

It's just like you're reading a textbook of technical analysis.