Correlation Between $BTC & DJI
Based on 1W TF, There seems to be a good correlation between DJI chart (Mar'09-Mar'20) and BTC (Mar'20-today). Based on fibonacci retracement, We can see that after DJI had reached 1.6 retracement marked with a double top pattern, a correction to 1 retracement took place. Interestingly, these things are also seem in 
BTC, as BTC reached 1.6 retracement marked with a double top pattern, a correction to 0.786 retracement still taking place. Therefore, I guess if BTC can rally up to 35k-37k resistance zone, I'll prefer to wait and see whether the next correction will make a higher low pattern or 200 weekly MA will touch the next low.
This posting is purely an idea sharing, not a financial advise
BTC, as BTC reached 1.6 retracement marked with a double top pattern, a correction to 0.786 retracement still taking place. Therefore, I guess if BTC can rally up to 35k-37k resistance zone, I'll prefer to wait and see whether the next correction will make a higher low pattern or 200 weekly MA will touch the next low.This posting is purely an idea sharing, not a financial advise
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.