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rgolshan

US10Y is about to break up and so is Bitcoin.

Long
US Government Bonds 10 YR Yield (TVC:US10Y)  
rgolshan  
TVC:US10Y   US Government Bonds 10 YR Yield
Trend Analysis Chart Patterns BTCUSD Bitcoin (Cryptocurrency) BTC BTCUSDT US10Y
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trendanalysis chartpattern btcusd bitcoin btc btcusdt us10y
Bonds and crypto movements are known to be highly correlated. In fact, some like to refer to cryptos as digital bonds. Here I have compared US10Y (candles) with BTCUSD (rescaled and white line) on the daily chart. Do I need to say anything extra? The US10Y is about to have a MA50 and MA100 golden cross and the MACD line has recently turned positive. The consensus among Wall Street analysts is that such an upward breakout will happen soon. Another reason I am super bullish on Bitcoin and crypto as a whole is the China news of declaring cryptocurrency trading illegal! Such a huge event only caused a minor 5% drop that is in the process of recovering.
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