josephtse

Bitcoin vs SPX vs Dow vs NDX high level analyis

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi folks. These are the long term trendlines in place since 2016 ( BTC goes back to 2014, with ascending slopes). BTC (log scale, ascending even on log scale!), U.S. stock indexes linear scale. Looks like DJI and NDX have not touched down their long term trendlines yet, but BTC and SPX have. So does that mean DJI and NDX need to fall more before calling a really good bottom? Possibly. Just showing you how the graphs of all 4 are similar.
Comment: I went back and refined my trendlines to include late 2016, and looks like SPX and NDX have already breached their trendlines starting from Nov 2016 with USA president Trump joining office. DJI is sitting right on it. All 3 are being tested right now and need to hold, otherwise next stop we will fall to the amber lines.
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