is BTC an indicator of the S&P500?
The S&P 500 is up 10%!
Finally, a reversal and the end of the bear market!
Or not?
Bitcoin formed a double top on April 5 and November 8.
There were 217 days between the two peaks.
After that, the price fell for a long time and has already fallen by 70%.
What happened to the S&P500 at that time?
The index did not fall on November 8, but went sideways.
This sideways movement lasted for 49 days, after which a bearish trend began, which we are still in.
That is, we had 49 days to understand that there would be a fall soon.
By the time the DOUBLE TOP pattern formed on the bitcoin chart and the price had already gone down 30% and it was clear that there would be a fall, it was possible to understand that there would be a fall on the S&P500.
During this time, we could open good positions at a good point and catch a 25% drop in the S&P500!
I won't burden you with history, you can look at the charts yourself, but bitcoin starts its movement before the S&P500.
Now the world is screaming that the S&P500 has turned around, and bitcoin, on the contrary, continues to fall.
Think about it...
Draw your own conclusions and do not forget to share your opinion in the comments.
Finally, a reversal and the end of the bear market!
Or not?
Bitcoin formed a double top on April 5 and November 8.
There were 217 days between the two peaks.
After that, the price fell for a long time and has already fallen by 70%.
What happened to the S&P500 at that time?
The index did not fall on November 8, but went sideways.
This sideways movement lasted for 49 days, after which a bearish trend began, which we are still in.
That is, we had 49 days to understand that there would be a fall soon.
By the time the DOUBLE TOP pattern formed on the bitcoin chart and the price had already gone down 30% and it was clear that there would be a fall, it was possible to understand that there would be a fall on the S&P500.
During this time, we could open good positions at a good point and catch a 25% drop in the S&P500!
I won't burden you with history, you can look at the charts yourself, but bitcoin starts its movement before the S&P500.
Now the world is screaming that the S&P500 has turned around, and bitcoin, on the contrary, continues to fall.
Think about it...
Draw your own conclusions and do not forget to share your opinion in the comments.
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