๐ BTC vs. S&P500: Broken Correlation & The Next Big Move!๐ฅ๐๐ฐ
Wishes for a nice month everyone and let's all pray for logic and Peace in the World.๐
๐ November has started with a bang, and we're seeing some interesting movements in the financial market. ๐
๐ Observations:
Bitcoin's Rollercoaster: BTC took a slight dip today, even after a splendid performance post the Federal Reserve announcement. ๐ธ
Inverse Correlation Emerges: Historically, Bitcoin & S&P 500 moved hand in hand. But now? They're moving in opposite directions at times! ๐
Past Patterns: Dive into 2018, 2019, and 2020, and you'll see this dance between BTC and S&P 500. Correlation breaks, then normalizes, and ultimately... BOOM! ๐ A significant price movement ensues.
๐ค Thoughts:
ChatGPT Insights: Looked up ChatGPT for more on this correlation break. Factors like market sentiment, liquidity, and micro events could be playing a role.
Current Market Trend: Bitcoin's moving up while indices correct. What's next? We might see this correlation normalize soon. ๐
The BIG Resistance: Keep an eye on Bitcoin as it approaches the major resistance level I've been talking about. This could be a pivotal point! ๐
๐ฅ Hot Takes:
Bitcoin: Feeling bullish! Major support lies around 34,000, and I'm optimistic about BTC reaching the 37,000 mark and beyond. ๐
S&P 500: Spotted a significant resistance at 4,327. Bearish trends have been dominant since last year, but a break above this resistance could change the narrative. ๐ป vs ๐
In conclusion, watch out for the correlation between Bitcoin and the S&P 500. When it breaks and normalizes, it might just present a golden opportunity! ๐ Keep observing, analyzing and take grown up decisions; stay vigilant, and remember to do risk management and have patience ๐ฐ
One Love,
The FXPROFESSOR ๐
link:
๐ November has started with a bang, and we're seeing some interesting movements in the financial market. ๐
๐ Observations:
Bitcoin's Rollercoaster: BTC took a slight dip today, even after a splendid performance post the Federal Reserve announcement. ๐ธ
Inverse Correlation Emerges: Historically, Bitcoin & S&P 500 moved hand in hand. But now? They're moving in opposite directions at times! ๐
Past Patterns: Dive into 2018, 2019, and 2020, and you'll see this dance between BTC and S&P 500. Correlation breaks, then normalizes, and ultimately... BOOM! ๐ A significant price movement ensues.
๐ค Thoughts:
ChatGPT Insights: Looked up ChatGPT for more on this correlation break. Factors like market sentiment, liquidity, and micro events could be playing a role.
Current Market Trend: Bitcoin's moving up while indices correct. What's next? We might see this correlation normalize soon. ๐
The BIG Resistance: Keep an eye on Bitcoin as it approaches the major resistance level I've been talking about. This could be a pivotal point! ๐
๐ฅ Hot Takes:
Bitcoin: Feeling bullish! Major support lies around 34,000, and I'm optimistic about BTC reaching the 37,000 mark and beyond. ๐
S&P 500: Spotted a significant resistance at 4,327. Bearish trends have been dominant since last year, but a break above this resistance could change the narrative. ๐ป vs ๐
In conclusion, watch out for the correlation between Bitcoin and the S&P 500. When it breaks and normalizes, it might just present a golden opportunity! ๐ Keep observing, analyzing and take grown up decisions; stay vigilant, and remember to do risk management and have patience ๐ฐ
One Love,
The FXPROFESSOR ๐
link:
โจ๐ฆ ๐๐ CRGPT Token : Join the Crypto AI Revolution ๐ www.cryptogpt.io/
๐FOREX SPECIAL: fxprofessor.com/forex-special ๐ก๐๐ฌ Public Telegram: www.t.me/fxprofessor88 ๐
๐FOREX SPECIAL: fxprofessor.com/forex-special ๐ก๐๐ฌ Public Telegram: www.t.me/fxprofessor88 ๐
