BTC been correlating with Gold more than SPX over past weeks!
Just a quick thing to note.
Presently the treat of government shutdown in the US and the looming election is creating uncertainty in the market, leading to mass liquidation back into USD -- as irrational as that may be considering the present debasement of the USD (and of other currencies around the world, including the Yuan, and the Pound, etc).
See previous BTC analysis which considered the bearish case in an update just before the dump:
Key thing to note, as posted in an update of the analysis above:
"If 10400 USD VPVR level fails to hold, expecting price to drop to the white long-term resistance-turned-support level presently at 9600 USD to finally close the CME gap (yet again)."
Presently the treat of government shutdown in the US and the looming election is creating uncertainty in the market, leading to mass liquidation back into USD -- as irrational as that may be considering the present debasement of the USD (and of other currencies around the world, including the Yuan, and the Pound, etc).
See previous BTC analysis which considered the bearish case in an update just before the dump:
"If 10400 USD VPVR level fails to hold, expecting price to drop to the white long-term resistance-turned-support level presently at 9600 USD to finally close the CME gap (yet again)."
Comment:
*typo: "..threat of government shutdown.."