Correlation with the SP shows that the top aint in yet
If we look at the Stockmarket and Bitcoin at the same time, you can see that back in 2017 the SP reached the first extension while Bitcoin was still hovering around its all time high.
Bitcoin outperformed the SP only in the last fase of the bullrun and found its top earlier than stocks did.
If we draw the same extensions on the latest price action, you can see the similarities with the previous run. The SP reached its first extension, Bitcoin is still struggling around its ATH. Bears are celebrating and are probably cockier than ever before. Let's kill them all and bury their bodies beneath big green trees.
Bitcoin outperformed the SP only in the last fase of the bullrun and found its top earlier than stocks did.
If we draw the same extensions on the latest price action, you can see the similarities with the previous run. The SP reached its first extension, Bitcoin is still struggling around its ATH. Bears are celebrating and are probably cockier than ever before. Let's kill them all and bury their bodies beneath big green trees.
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