Monthly bull divergences, most likely this hits .40 in a few years or maybe less time. So, what does this chart mean?
If the uptrend continues...
1. If SPX rallies, then Bitcoin will rally less (less likely scenario)
2. If SPX falls, BTC will likely fall more (more likely scenario)
In other words, according to this chart, calls for the bottom in bitcoin are extremely premature. It doesn't mean it won't have fantastic rallies - it will. But overall, the projection for price is lower on BTC for quite some time to come.
If the uptrend continues...
1. If SPX rallies, then Bitcoin will rally less (less likely scenario)
2. If SPX falls, BTC will likely fall more (more likely scenario)
In other words, according to this chart, calls for the bottom in bitcoin are extremely premature. It doesn't mean it won't have fantastic rallies - it will. But overall, the projection for price is lower on BTC for quite some time to come.
