Both on the chart indexed on the ETF QQQ (proxy for the Nasdaq index) and on the Bitcoin chart itself, we have a bullish divergence.
If Bitcoin breaks out of the yellow region at the 0.5 Fibonacci retracement, I believe it could go all the way to the top of the wedge, and then deliver the final sledgehammer down.
For a while Bitcoin had a decorrelation with QQQ.
I am hoping that there will be a compensation of this gap.
If Bitcoin breaks out of the yellow region at the 0.5 Fibonacci retracement, I believe it could go all the way to the top of the wedge, and then deliver the final sledgehammer down.
For a while Bitcoin had a decorrelation with QQQ.
I am hoping that there will be a compensation of this gap.
Comment:
The yellow zone:
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⚡Bitcoin Lightning Network: forwardocean64@walletofsatoshi.com
🟠Bitcoin: bc1qv0j28wjsg6l8fdkphkmgfz4f55xpph893q0pdh
🔵Litecoin: ltc1q4lssqlf6lnmpe4w7npdl5ws2uamm4v5zxwmf5j
⚡Bitcoin Lightning Network: forwardocean64@walletofsatoshi.com
🟠Bitcoin: bc1qv0j28wjsg6l8fdkphkmgfz4f55xpph893q0pdh
🔵Litecoin: ltc1q4lssqlf6lnmpe4w7npdl5ws2uamm4v5zxwmf5j
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