LorbeerPattern in @Resistance
Hi traders. So far I did not trade Bitcoin but a first look on some breef historic statsitics show that BTCUSD follows the same price action pattern than most assests.
After seeing a cahrt of correlation of the Gold arally of 1980 and the Bitcoin rally that happens right now, and the correlation is surprisingly (why am I surprised, there is nothing new under the sun!) accurate. If this correlation continues then we will see some major sideways swings going forward. Pattern traders know that asvanced fibonacci pattern work best in siderways or consolidating cycles.
After seeing a cahrt of correlation of the Gold arally of 1980 and the Bitcoin rally that happens right now, and the correlation is surprisingly (why am I surprised, there is nothing new under the sun!) accurate. If this correlation continues then we will see some major sideways swings going forward. Pattern traders know that asvanced fibonacci pattern work best in siderways or consolidating cycles.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.