BTC VS DJI - Log Fractal Fib Retrace

Indice Industriale Dow Jones (TVC:DJI)

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TVC:DJI Indice Industriale Dow Jones

trendanalysis harmonicpatterns waveanalysis btc btcusd djiusd dji dowjones btcdji btccorrelation

Looking at the 1M BTC Chart Over the DJI Index I cannot help but notice a 2018 type similar fractal fib retracement pattern. With the current market conditions could lead to a possible retracement on the DJI Index to the 18k-21k $ region, in that scenario we can expect BTC to retrace to the 7k-10k $ levels. Described a possible playout with plenty bull traps and bear traps. One of the first signs to confirm this theory would be a test and rejection in the 27k-29k $ area. Will keep a watch on how this plays out.

Commento:

correlation is off

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