#Analytics 5️⃣ Bitcoin in a cross-section of the S&P500 situation
We recently wrote that bitcoin would magically regain correlation with the S&P500 if the stock market index started falling in big red candles. Yesterday, we were convinced of this.
Now all crypto-enthusiasts should believe that the S&P500 will show a "soft landing" - getting a reaction from the 4450-4500 zone (potential mirror level).
The tougher scenario is a departure to the 4400-4300 zone and if this is accompanied by strong red candles - the crypto will have a difficult period. A slow slide, on the other hand, will leave the crypto with a chance to stand on its own
Ocean TA | Education | P2P | Indicators | All trade agreements
We recently wrote that bitcoin would magically regain correlation with the S&P500 if the stock market index started falling in big red candles. Yesterday, we were convinced of this.
Now all crypto-enthusiasts should believe that the S&P500 will show a "soft landing" - getting a reaction from the 4450-4500 zone (potential mirror level).
The tougher scenario is a departure to the 4400-4300 zone and if this is accompanied by strong red candles - the crypto will have a difficult period. A slow slide, on the other hand, will leave the crypto with a chance to stand on its own
Ocean TA | Education | P2P | Indicators | All trade agreements