Sum of the American indices divided by the price of bitcoin
Things to note:
1) divergence from August of 2017 to late last year (purple)
2) The key resistance at 10.5
3) The yellow line goes back as far as 2011, and it matches perfectly with the medium-term . level. I expect it's headed there or lower by the end of 2019
4) The daily is far from looking good
5) The medium-term . is likely to be a very key level as well, due to the extra support provided by the medium-term uptrend
If you're on the American stock market or on bitcoin , I can't suggest enough that you look at charts like this and perform your own analysis on them. At the very least, they give me a much better idea of what's really going on and I've used them so many times as tools to make accurate short-term predictions on twitter and YouTube, such as my last "stubbornly AF on BTC" one from February 6. If you don't yet know how, see my latest update to my related idea, "Average price of bitcoin against the American stock market." I give a few formulas you can type into the top left box in the tradingview window. This is one of them. This is a very dangerous time to be taking positions, period. But the risk:reward is DEFINITELY so much better in crypto.
P.S. On my 24/7 "Not Financial Advice" crypto livestream(YouTube, twitch, and Mixer), bitcoin just touched the bottom of the 2H that I've been stressing the importance of for months. Then it went right back up above the medium term . I've been watching for months. I'm about to explode with contrarian bullishness.
Bonus chart... here's what the sum of the indices divided by Gold looks like at the moment:
One more bonus... BTC/Gold:
On 18-December-2018, you were able to purchase one share of Nasdaq 100 + one of Dow Jones + one of S&P 500 for just 1.8 BTC.
In order to buy the same three index shares (one of each) today you have to shell out 10 BTC.
In other words, Bitcoin has lost a whopping 460% of its purchasing power in 420 days compared to the US stocks!