I have two charts here in order to plan how I will approach BTC as well as GOLD, in the long term.
First Gold (CDFs): =================================== Observations and thoughts: > A massive irregular dump at the time of the stock market crash (The Paul Volcker effect - controlling the price of gold in the interest of the USD). > A potential diamond pattern in the making (can be a reversal or continuation)....I think reversal to save the USD > Its not worth trading until the pattern is completed. At this instance, down to the 0.5 fib level.
S&P 500: ================================== Observations and thoughts: > We hit the 0.5 fib. level of this impulse wave, strong resistance. > 0.618 is the target (the rich lobbying for bailouts, buy lots of stocks, sell what they have already, cut their losses and pay back the loans) > I'm expecting the bottom to be revisited or near about's or more lows (global economy impacted by the C.Virus).
Thoughts: ================================== > How does this effect BTC? it does in a big way. > Its been proven on many occasions, both Gold and the global stock market (pivot points) drop (or go up), BTC responds at those junctures in the same. > However BTC or crypto has exponential response.
FYI. BTC heading for 6900.
All the best.
Please give me a tick or a like as an appreciation of this post.
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.