GOOD LUCK
Since the S&P experienced its peak though, they have been far more correlated. The Bitcoin led on the way down and perhaps last week’s breakout means that it is destined to lead the market up. I am not sure this relationship will continue to hold up. However, since Bitcoin represents the ebb and flow of speculative juices i.e. swings in confidence, it may be forecasting a strong equity rally. Watch for the rally once the very short-term effects of the engulfing pattern and outside day, discussed above, have been digested. Let’s see what happens, as they say!
Since the S&P experienced its peak though, they have been far more correlated. The Bitcoin led on the way down and perhaps last week’s breakout means that it is destined to lead the market up. I am not sure this relationship will continue to hold up. However, since Bitcoin represents the ebb and flow of speculative juices i.e. swings in confidence, it may be forecasting a strong equity rally. Watch for the rally once the very short-term effects of the engulfing pattern and outside day, discussed above, have been digested. Let’s see what happens, as they say!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.