BTC Compound Fulcrum And Correlation With Copper

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin ( BTC ) is printing a pattern which is a very rare sight in the world of technical analysis . This formation seen on the above daily chart for BTC/USD is called a compound fulcrum. It comprises of an inverse head and shoulders and a head and shoulders trading inside a wedge in the order visible above. This is a very bullish sign which often results in the price breaking straight through the wedge and eventually reaching a new high. We have seen similar patterns in the past for commodities like Copper as well as a few stocks. Bitcoin ( BTC ) is also currently classified as a commodity which is why it will be interesting to see how Bitcoin ( BTC )’s recent compound fulcrum compares to that of Copper and a popular stock, CPST.

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