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Lift off: Bitcoin-Gold Correlation Reaches Yearly High!

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Bitcoin-Gold realised correlation reaches yearly high

As recently reported on our blog, the bitcoin-gold correlation continues to reach new highs, corroborating numerous data points which suggest that a bitcoin trend shift away from stocks is underway.

https://bit.ly/3dvqxiM

Technically speaking

Bitcoin weekly maintains bullish momentum

Bitcoin’s macro situation continues to dictate the medium-to-long-term trend, which is bullish by any measure. In fact, bitcoin has just marked the 189th day of this price reversal trend since black Thursday in March and shows little signs of stopping.

Daily finds resistance at $11,000

Per Wednesday’s newsletter, bitcoin found resistance at the $11,000-$11,200 levels after having reclaimed the mid $10k-trading area.

  • $10,500 resistance-turned support
  • $10,000 20-weekly EMA support
  • $11,000 daily close for confirmation of bias flip
  • $11,500–700 for a possible rejection
https://chrisoncrypto.com/blog/f/ray-dalio-the-world-is-going-to-change-in-shocking-ways
https://chrisoncrypto.com/

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Chris on Crypto

Journalist-turned crypto-writer & analyst; forging the narrative, stacking sats.