BTC and US10Y / A negative correlation or a leading indicator ?
We' re examining a correlation between BTC and US10Y
1. taking into account negative correlation between BTC and US10Y past 2 months, IF US10Y rejects at weekly resistance with doji candle, we'll see pump in BTC.
2. Considering that US10Y has broken multi months trendline and after retest will continue it's pump and it is a leading indictor ahead 1-2 months, we'll see BTC pump as well.
3. But if US10Y continues pump and negative correlation stays between them, after retest/short term BTC pump>retest 28K and maybe 35-36K / we'll see further drop in BTC
1. taking into account negative correlation between BTC and US10Y past 2 months, IF US10Y rejects at weekly resistance with doji candle, we'll see pump in BTC.
2. Considering that US10Y has broken multi months trendline and after retest will continue it's pump and it is a leading indictor ahead 1-2 months, we'll see BTC pump as well.
3. But if US10Y continues pump and negative correlation stays between them, after retest/short term BTC pump>retest 28K and maybe 35-36K / we'll see further drop in BTC