TO HELP US GAUGE BITCOIN & STOCK MARKET SENTIMENT, I'M PAYING CLOSE ATTENTION TO THESE 3 CHARTS. - ( DXY , CRUDE OIL , AND 10Y YIELD)
DXY , ( Dollar Index )
The Price Of WTI Crude Oil &
The 10 year Yield.
LOOKING FOR:
A Weaker DXY With Crude Oil Higher and a Stable 10 Year Yield would be BULLISH
For The Stock Markets continuation to the upside, and safer environment for Bitcoins continued upside.
OR
A Stronger DXY , Lower WTI Crude, and A Dropping 10 Year Yield Is Bearish For The Stock Market, and could also affect Bitcoins price short term with a move away from risk assets.
(Eventually I expect Bitcoin to break from this correlation, however it has not yet done so.)
((( WTI CRUDE OIL )))
The price of Oil has broken down from this triangle pattern and looks to soon test the 1st psychological support at 60.00.
Though I personally believe we could see higher prices here in the intermediate term, This chart is currently looking for a bit more downside.
DXY , ( Dollar Index )
The Price Of WTI Crude Oil &
The 10 year Yield.
LOOKING FOR:
A Weaker DXY With Crude Oil Higher and a Stable 10 Year Yield would be BULLISH
For The Stock Markets continuation to the upside, and safer environment for Bitcoins continued upside.
OR
A Stronger DXY , Lower WTI Crude, and A Dropping 10 Year Yield Is Bearish For The Stock Market, and could also affect Bitcoins price short term with a move away from risk assets.
(Eventually I expect Bitcoin to break from this correlation, however it has not yet done so.)
((( WTI CRUDE OIL )))
The price of Oil has broken down from this triangle pattern and looks to soon test the 1st psychological support at 60.00.
Though I personally believe we could see higher prices here in the intermediate term, This chart is currently looking for a bit more downside.