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.
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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.
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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.