Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
⋅
Well, maybe. A buddy of mine over in discord pointed out the fractal nature of what went on with gold and what is going on with bitcoin. Granted they do not follow each other perfectly but the case can be made. IF we are breaking out here I see no reason Why we couldnt go parabolic as bitcoin has a history of just such behavior. The real question is, are we really breaking out? Well, I think we wait for the weekly close and talk about that then.
All the best,
Red Boar, Darth, EzPz :)
Comment
⋅
The following chart is basically the last meme line I can find we have not broken...If this one goes then I have no more diags arguing bearish
Comment
⋅
So far so good! Our parabolic arrow seems to be sending the corn to new highs daily! I do think we are about to correct short term, mid and long term I do believe we see see 16k
@Weavs844, It can go either way! I am just presenting an idea! I will post a follow up chart here in a second showing we have not broken out! There is still one more meme line we havent broken!
Scygon
⋅
@Weavs844, Draw it with all the wicks on the CME chart and you will see it fits the breakout narrative better. That pump was on a weekend and quickly sold off when CME opened on Monday.
Scygon
⋅
Interesting fractal. Unusual to see Gold at 12H compared to BTC at 2D.
Traditional markets and even LTC/ETH seem to be leading as well. Probably still has some room to run but I took leverage off my position at 8800-8840.
TEXAGG22
⋅
@Scygon, Yeah, my buddy pointed it out to me and I just thought it would make an intersting idea.We both know bitcoin loves to go parabolic...that last meme line diag chart still got me a little nervous though