mrhashem

NASDAQ Futures and Bitcoin Analysis

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
As of the 10 years history of Bitcoin and Correlation between SPY or NASDAQ Indexes and Bitcoin , we could say that if bitcoin manages to range in this area, could actually be bullish for it.
the Nasdaq futures are at ATH and beyond so if these indexes are correlated with bitcoin , On the macro it could go up and break this triangle to the upside.

but this is crypto and full of traps. So if bitcoin breaks down (by closing a Daily candle below $9000 and $8600), it could test $8100 and Mid 7000s and because of Nasdaq and other bullish asset indexes, it will give an opportunity.

Without Risk and Position Management, You WILL Lose Money.