Bitcoin BTC BTCUSD Cryptocurrency Market Update By Hours ⏰
With everyone’s appreciation of our “Cryptocurrency Market Conspiracy Theory Mafia For The New Global Economic Crisis”, we continue to evaluate the market in fundamental terms. So with this post we want to bring you a quick update on the current situation.
Very High Correlation
Making a significant assessment of the reality of the market, Bitcoin and other currencies for the market capitalization of the dollar presents a high correlation after the sharp drop in prices.
On its way, it is within what would be a formation of a low symmetric triangle making small Elliot waves, meaning in the short term a region of accumulation between USD $5800 and USD $4980. We continue with no reversal confirmation with the price constantly touching the EMA9.
When we said correlation, we meant that for both Ethereum, Ripple, EOS, and other major cryptocurrencies, they present the same dynamic situation as Bitcoin.
In the case of Ethereum, with the price below the EMA9 it still represents a risk zone.
Same situation presented for Ripple and EOS too.
Dollar Dominance Rising And Hit Record
With the panic in the markets, the dollar continues to break new price records in all the houses of change in the world and its dominance continues to grow. This phenomenon is already beginning to worry many countries. Others, we know that you should be very happy.
See you in the next story! With love 💛 Rubika Ventures Team!
If you really liked this article, don’t forget to like it, share it with your friends, leave your tip, vote or clap so that we can continue producing more content as that one. In addition to that, if you have a personal opinion or something you have learned with the article, do not stop using the text box below. Your comment is really very important for everyone.
Also, we want to invite you to join in our community on telegram https://t.me/rubikaventures — https://t.me/rubikaventurescommunity, where we are sharing every day the best news, technical analysis and trading signals for Bitmex, Bybit, Derebit, and Binance with Cornix Auto Trading Bot and more.
Remember, investment in cryptocurrencies or other assets has a moderate risk, so it is important to have a detailed study of the possible scenarios before placing your money at risk.