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RE: Unfortunately, BTC alt view in play.
This is on the edge now. could breakout but right now is structured like a perfect 'high b wave' We'll know today!.
This is on the edge now. could breakout but right now is structured like a perfect 'high b wave' We'll know today!.
What do you think of this post. I've been noticing the trends of miners taking a dive and then crypto pops up and then crypto down and miners popping up.
https://steemit.com/bitcoin/@marketreport/something-huge-just-happened-to-bitcoin-and-no-one-even-noticed-by-gregory-mannarino
If this instability in the market remains, I think crypto/bitcoin will have strong momentum pushing it higher?
I've noticed some of this correlation lately for sure. I'm just careful with this in my personal trading. Correlation and reverse coorelation come and go. Take gold and the USD, or gold and the SP500. Or, bonds and the SP500, all of which I trade actively. Each of those pairs will reverse coorelate for a time....and then wham, its done and they'll reverse behavior and move together for some time. So, trading these correlations without a view of each chart will frustrate you over time. And, correlation is not a great market signal in my opinion. So, I'm just taking a trader's view. But interesting academically.