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Psymon
Mar 28, 2018 12:56 PM

BTCUSD correlation to traditional markets NASDAQ Tech and DOW Long

Bitcoin / DollarBitfinex

Description

- stronger rebound in traditional markest, shows the trust difference
- mostly positive correlation except in one zone the Bitcoin is showing more weakness, caused by stricter regulations, Mt. Goxx sell off, behavioral finance and more, which compromised the optimism also the option of short leaveraged short sellers could give a stronger negative pressure
- under 5435$ strong weakness and high risk, but should hold through strong fundamentals in long term at around 5000~4800$
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