Not only BTC vs SPX has bottomed.
I think BTC has also bottomed against many Mag7 stocks like NVDA.
Weekly bullish divergence and closing above the weekly trend.
Just shows that the RR on BTC is still better than on stocks, although with a higher risk of course.
This is the ‘revolution’ coin.
From a peak of over $77 to around $1.60. Thousands of people have been fleeced, whilst those who launched it have raked in hundreds of millions.
It is estimated that the operation netted around $600 million in fees and related revenue.
And there are still people defending this rubbish.
If Trump and his family would just get out of the crypto world’s way once and for all, they’d be doing the whole sector a favour. Cryptos deserve innovation, not this circus.
$BTC On the H12 chart, it is crucial that the area highlighted in red holds. As long as the price continues to defend this area as support, the most likely scenario remains a recovery towards higher levels and a possible retest of the next resistance levels.
The reaction seen following the dip below 59k shows that demand has emerged in that area and that buyers are attempting to regain control of the market.
Conversely, a clear break below the red box and the main support level would turn the current rebound into a mere temporary relief rally. In that case, the short-term bullish scenario would be invalidated and the market could return to seeking liquidity at lower levels.
For now, the message is simple: above the red zone, we can talk of a recovery and higher prices; below the red zone, the scenario changes and the entire context must be reassessed.
🔥 $5k giveaway 🔥
$5k prize $1k to 5 people Must
I haven’t done one in a while - want to help a few of yall buy more crypto if you win!
Rules: $5k giveaway $1k to 5 people
Must LIKE & RT
Tag 2 friends
Winners drawn on July 20th