Bitcoin and the S&P500 are still showing correlation.
S&P500 Futures (ES1! ticker) has a gap about 3% lower.
I think we need to fill this gap (resulting in a bounce) for BTC to start moving with greater strength to the upside.
The gap is also in the range of the 0.5 Fib retracement (50% of that range).
This could see BTC come back to the lower 80k's region before we completely put in the local bottom.
S&P500 Futures (ES1! ticker) has a gap about 3% lower.
I think we need to fill this gap (resulting in a bounce) for BTC to start moving with greater strength to the upside.
The gap is also in the range of the 0.5 Fib retracement (50% of that range).
This could see BTC come back to the lower 80k's region before we completely put in the local bottom.
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