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Hey Traders, here is the analysis for Bitcoin
Bitcoin and Standard & Poor's 500 ( S&P 500 ) considered to be the a benchmarks to measure the traders risk appetite, risk on both goes up, risk-off both goes down and they became quite correlated, the correlation became quite clear between the two markets,
Right now the SPX seemed to be supported above its long term trend line, same can be said for Bitcoin
we could go in the short term up to 6500 which is resistance zone and Fib 38.2
If you like our idea and want to see more press the like button, share it, and do not forget to let us know your opinion below the post
Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only**
Hey Traders, here is the analysis for Bitcoin
Bitcoin and Standard & Poor's 500 ( S&P 500 ) considered to be the a benchmarks to measure the traders risk appetite, risk on both goes up, risk-off both goes down and they became quite correlated, the correlation became quite clear between the two markets,
Right now the SPX seemed to be supported above its long term trend line, same can be said for Bitcoin
we could go in the short term up to 6500 which is resistance zone and Fib 38.2
If you like our idea and want to see more press the like button, share it, and do not forget to let us know your opinion below the post
Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only**
