BITCOIN vs VIX. This is why it will rally!

٨ يوليو

We usually consult the Volatility Index (VIX) when attempting to project movements on stock indices. But as recent price actions reveals, it can work equally well on predicting the trend on Bitcoin (BTCUSD).

Take BTC's Channel Up for example on the 1W time-frame. VIX (black trend-line) has started a consolidation phase (green ellipse) following a strong decline in mid-April to mid-May. Since the November 2022 market bottom, VIX posts this consolidation pattern before it typically rallies.

That is technically not just some rally but the Bullish Leg of this long-term Channel Up formation. As a result, with VIX consolidating, it could only be a matter of time before Bitcoin starts the new rally to new All Time Highs.

What do you think? Feel free to let us know in the comments section below!

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