Bitcoin Deviates Further Away from Dow, S&P 500 as Price Hits $13K
Bitcoin has wholly sidelined its widely-covered correlation with the US stock market. On Thursday, the benchmark cryptocurrency sustained its weekly gains as its price surged by more than 1 percent. The move briefly pushed the price above $13,000 before a modest pullback turned it back below the level. But overall, the bias appeared extremely bullish […]
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The 2nd arc of the 3rd arc pair has stopped bitcoin price for three days now. The arc is being tested again as these words are being typed. The resistance line drawn in pink is also still holding, but continues to be tested several times a day for the past few days. My belief continues to be that the resistance will fail shortly, though there is always the possibility that the arc resistance will hold and force price lower. However, I tend to think that if that were going to happen it would have happened already. Buying strength seems strong. When/if the arc fails, as I expect, as you can....