On the weekly chart bolliger bands continue to break up above the long term upper trend line. Seeing more space for movement above that trend line is very bullish.
Looking at the daily chart looks like we still have room so sideways movement.
In the short term the S&P 500 will play a large role in price movement. As S&P is sitting right above $3000 physiological level a recovery is possible. I will also be watching Thursday June 25th M2 money update. The federal reserve response to last weeks price crash is important to monitor. Technically a small short on stock market might make sense as hedge for Bitcoin. If the market and Bitcoin drop together sale of the market short would allow for discounted buy in of Bitcoin. A rise in Bitcoin price would benefit the Bitcoin holdings.
Looking at the daily chart looks like we still have room so sideways movement.
In the short term the S&P 500 will play a large role in price movement. As S&P is sitting right above $3000 physiological level a recovery is possible. I will also be watching Thursday June 25th M2 money update. The federal reserve response to last weeks price crash is important to monitor. Technically a small short on stock market might make sense as hedge for Bitcoin. If the market and Bitcoin drop together sale of the market short would allow for discounted buy in of Bitcoin. A rise in Bitcoin price would benefit the Bitcoin holdings.
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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.