Traditional markets influencing the crypto space

3년 전

analysis btc with traditional markets.png
I made a little technial analysis on my tradingview and twitter account, which I wanted to share with you.

  • stronger rebound in traditional markest, shows the trust difference in the current situation, which switched in the beginning of January
  • mostly positive correlation except in one zone the Bitcoin 3.31% is showing more weakness, caused by stricter regulations, Mt. Goxx sell off, behavioral finance and more, which compromised the optimism also the option of short leaveraged short sellers could give a stronger negative pressure
  • under 5435$ strong weakness and high risk, but should hold through strong fundamentals in long term at around 5000-4800$

https://www.tradingview.com/chart/BTCUSD/U6PAvZ42-BTCUSD-correlation-to-traditional-markets-NASDAQ-Tech-and-DOW/

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Nice work! Thanks for the post