As long as we are above 36.9 for BTC / Sensex, there's no reason not to own BTC.
The almost-10-year-old trendline is also acting as a strong support zone.
One more interesting point to note is how BTC ripped up in May 2017 after breaking out of the Nov 2013 highs. After the May 2017 breakout, the former highs acted as support in July 2017. Post that retest, BTC / Sensex roared to the famous 2017 BTC bull run.
Now, a similar pattern in the ratio, with those December 2017 highs acting as strong support, can be seen developing in August 2021.
Not investment advice. This is only for educational and entertainment purposes. Please refer to your investment advisor before doing anything. I am neither a registered investment advisor nor a research analyst.
The almost-10-year-old trendline is also acting as a strong support zone.
One more interesting point to note is how BTC ripped up in May 2017 after breaking out of the Nov 2013 highs. After the May 2017 breakout, the former highs acted as support in July 2017. Post that retest, BTC / Sensex roared to the famous 2017 BTC bull run.
Now, a similar pattern in the ratio, with those December 2017 highs acting as strong support, can be seen developing in August 2021.
Not investment advice. This is only for educational and entertainment purposes. Please refer to your investment advisor before doing anything. I am neither a registered investment advisor nor a research analyst.