Traditional markets influencing the crypto space
I made a little technial analysis on my tradingview and twitter account, which I wanted to share with you.
- stronger rebound in traditional markest, shows the trust difference in the current situation, which switched in the beginning of January
- mostly positive correlation except in one zone the Bitcoin 3.31% is showing more weakness, caused by stricter regulations, Mt. Goxx sell off, behavioral finance and more, which compromised the optimism also the option of short leaveraged short sellers could give a stronger negative pressure
- under 5435$ strong weakness and high risk, but should hold through strong fundamentals in long term at around 5000-4800$
Nice work! Thanks for the post