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BTC & Square (SQ)

178
Since the beginning of 2020, SQ and BTC have moved together, almost perfectly.
However, I believe the BTC is a bit ahead of SQ.
Where BTC was on May 8ish i believe is roughly where we are, meaning we are due for a drop.
This along with fundamentals (theverge.com/2020/5/18/21261798/square-employees-work-from-home-remote-premanent-policy-ceo & realmoney.thestreet.com/investing/stocks/squares-isn-t-looking-too-hip-15329627).
And the technicals:
-RSI topped, although not technically oversold
-MACD is bearish
-Large selloff wicks

I believe we CAN see a possible hop up to ~84 then we will go towards the $70 range
Overall, SQ is bearish.

Some articles to look at if interested:
news.bitcoin.com/squares-cash-app-reports-btc-quarterly-revenue-exceeds-fiats-soaring-367-to-306-million
coindesk.com/square-bitcoin-auto-payments-satoshis
pymnts.com/cryptocurrency/2020/square-gets-patent-for-crypto-friendly-real-time-payments-system/

Let me know what you guys think. Agree or Disagree.

Stay Safe.
not financial advice

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