If stocks bounce, will Bitcoin follow?

If stocks bounce, will Bitcoin follow?
фото показано с : coinjournal.net

2023-3-1 18:47

Bitcoin and the S&P 500 move in a direct correlation  The recent corrections look like an Elliott Waves a-b-c If stocks make a new high for the year, Bitcoin will follow

US stocks rallied in 2023, and so did Bitcoin. One may ask what market is leading, and the answer is the stock market.

The S&P 500 index appears to have made a double top this month, but if the correlation with Bitcoin holds, then the double top would be invalidated by stocks making a new high.

So far, the 4,150 area proved to be resistance, but it might just be that the market forms an ascending triangle. If we look at how Bitcoin reacted to the S&P 500 rally, the recent correction is just part of an a-b-c structure, familiar to those using the Elliott Waves theory to trade financial markets.

S&P500 chart by TradingView

Flat patterns point to more upside

A flat pattern is a corrective wave labeled as an a-b-c. Elliott traders use letters to count corrective structures.

Only in this case, the flat pattern has two corrective waves of a lower degree (i.e., waves a and b), and one impulsive (i.e., the c-wave).

In other words, it means that the next wave of the same degree will fully retrace the stock market’s decline from this year’s highs. Given the direct correlation between the S&P 500 and Bitcoin, it means that Bitcoin will do the same and make a new high for the year.

To answer this article’s question, Bitcoin would follow the stocks lead if the S&P 500 bounces from the current lows.

The post If stocks bounce, will Bitcoin follow? appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67147.42 (+0.18%)
Объем 24H $15.898b
Изменеия 24h: 0.41 %, 7d: 10.12 %
Cегодня L: $66856.94 - H: $67251.24
Капитализация $1323.039b Rank 1
Цена в час новости $ 23690.68 (183.43%)

bitcoin stocks follow a-b-c high new make

Источник: coinjournal.net

bitcoin stocks → Результатов: 126


Bitcoin mining stocks are far riskier than Bitcoin itself

Key Takeaways Bitcoin mining stocks have underperformed Bitcoin heavily over the last year Greater competition among miners and higher amounts of energy required means margins are thinner Rising electricity costs and lower value of Bitcoin have also hurt miners immensely  Greater number of variables beyond merely the price of Bitcoin means mining stocks have been […] The post Bitcoin mining stocks are far riskier than Bitcoin itself appeared first on CoinJournal.

2023-6-22 16:52


Bitcoin correlation with stocks at 5-year low as regulatory crackdown takes toll

Key Takeaways Our Head of Research, Dan Ashmore, digs into Bitcoin’s relationship with stocks Correlation between Bitcoin and the Nasdaq is at its lowest point since 2018 The Nasdaq is up 10% in the last month as stocks have surged off softer forecasts around interest rates and the macro climate Bitcoin is down 9% in […] The post Bitcoin correlation with stocks at 5-year low as regulatory crackdown takes toll appeared first on CoinJournal.

2023-6-15 16:51


Want Bitcoin to Moon? You’d Better Start Buying Stocks

It seems like a lifetime ago that the Bitcoin price grazed the $20,000 mark in late 2017, and bulls have been pining for a new breakneck rally ever since. According to Fundstart Global Advisors co-founder Tom Lee, the catalyst for BTC’s march to a new all-time high could come from an unlikely place: the stock […] The post Want Bitcoin to Moon? You’d Better Start Buying Stocks appeared first on CCN.com

2019-9-16 23:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin still struggling around $61k: Will it dip lower?

Key takeaways Bitcoin continues to struggle below $62k and could plunge lower in the short term. Bitbot has raised $3. 3m so far, with only two stages of the presale left. Bitcoin stays below $62k Bitcoin has been struggling in recent weeks and could record further losses if the market condition persists.

AEVO, Arbitrum, Render token unlocks near as BitBot gains momentum

Popular cryptocurrencies are on edge as investors wait for their upcoming token unlocks that will lead to more dilution. Arbitrum’s ARB token was trading at $1 on Sunday, down by over 58% from its highest point in 2023, and is near its lowest swing since December 1st last year.

Crypto fear and greed index slips as the BitBot raises $3M

A sense of fear is creeping up in the cryptocurrency market as investors focused on the upcoming Federal Reserve decision. The closely-watched crypto fear and greed index has crashed from the extreme greed zone of over 80 to the neutral phase of 58.

Bitcoin struggles below $64k ahead of the halving: Will it plunge lower?

Key takeaways BTC continues to struggle below the $64k level ahead of the Bitcoin halving event in two days. Bitbot’s presale is now above $2. 5 million. Bitcoin stays below $64k ahead of halving Bitcoin has been struggling in recent weeks and could record further losses if the market condition persists.