Short
Bitcoin to 3000?
Cathy Wood from Ark innovation brought my attention to the price of lumber, which had a run in 2020 and now it seems has topped, just like bitcoin. I checked the relation between lumber and BTC and they are very correlated. They both had bullish price rise in 2013, 2017 and 2020. When we compare they price patterns, lumber could forecast the future price action of BTC. In 2013, after a bull run, Lumber made a head and shoulders pattern then plummeted down under the previous ATH until the last bottom.
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