An Interesting Observation Regarding
$BTC and #S&P500
(Summary at the very bottom, and here is the expanded thought.)
Looking at the global picture of the graphs, one can notice an interesting pattern between these two giants.
1. Every time #S&P500 goes below the 200-day moving average (data points indicated by vertical green lines), a decrease in BTC is observed.
2. The opposite situation arises when the S&P 500 rises above the 200-day moving average; at that moment, an increase in BTC begins.
3. Every time the S&P 500 graph declines, significant events occur in the world. I believe that this time it is a combination of recent news in the world - the signing of the U.S. crypto reserve and Trump's attempts to end the war in Ukraine.
Conclusion: My opinion for the near future is that the BTC chart is likely to continue moving downward, to the projected $68,000-$74,000, and only after that will it be able to update its highs.
#BTC #snp500