BTC and GOLD correlation (Y20.P1.E2).2 Scenario's
Hi All,
I am closely looking at what Gold and the SPx500 charts are doing as both have similarities in price action, especially at key drops.
The correlation doesn't match price action between the major drops and major peaks.
That's ok as it makes sense to me as to why at these major pivot spots we do have correlation and hence why I'm watching this space.
As for the chart, I have 2 bullish scenario's (positive still). If however the 2nd scenario in this forecast fails to hold , its bad for everyone no matter what market your in.
Sadly, this market has to be shorted for a long time.
So my point is, if gold and silver have further downs to go, (or SPx500) so will BTC. Lets just hope BTC doesn't go below 3200 otherwise its disastrous.
Crypto a is green industry and it has a long way to go before it goes to the next stage. This is what is mostly frustrating and sad. We came such a long way and if it drops below the 3200, frankly its going to kill the joy being involved in it.
Please give me a tick or a like as an appreciation of this post.
Regards,
S.Sari.
I am closely looking at what Gold and the SPx500 charts are doing as both have similarities in price action, especially at key drops.
The correlation doesn't match price action between the major drops and major peaks.
That's ok as it makes sense to me as to why at these major pivot spots we do have correlation and hence why I'm watching this space.
As for the chart, I have 2 bullish scenario's (positive still). If however the 2nd scenario in this forecast fails to hold , its bad for everyone no matter what market your in.
Sadly, this market has to be shorted for a long time.
So my point is, if gold and silver have further downs to go, (or SPx500) so will BTC. Lets just hope BTC doesn't go below 3200 otherwise its disastrous.
Crypto a is green industry and it has a long way to go before it goes to the next stage. This is what is mostly frustrating and sad. We came such a long way and if it drops below the 3200, frankly its going to kill the joy being involved in it.
Please give me a tick or a like as an appreciation of this post.
Regards,
S.Sari.
Comment:
On the macro level, we hare getting lower highs and higher lows. Which can go either way.
Comment:
Some trend lines...reversal or bear flag?
Comment:
12 HRLY looking better...MACD turning
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This community has signals now but with no risk management comms.
