secretcodealpha

secretcodealpha Updated 

Since BTC topped off at 12k, there has been a very strong correlation between BTC and equities. Not BTC and EURUSD (inverse DXY), not BTC and gold. BTC and DOW has had the highest degree of correlation together. DOW has clearly topped after 28.4k test and DOW futs are around 27.6 at the time of publishing this idea. It is quite clear that stonks are going to...

secretcodealpha

Strong rejections from 10k region with the minimum support levels decreasing. The grip that bulls have on the situation is visibly weakening. Massive shooting star on the 3d, very rare to this kind of rejection not followed by a sharp price decrease. Good risk to reward ratio, over 3:1. Targeting 8600 with stops placed around 10k.