IndiaCharts

BitCoin

For the sake of repeating myself, I do believe that Bitcoin like many other asset classes reflects the liquidity boom of the years gone by and is not the contra position as it was set out to be. It's beheviour in Jan-Mar of 2018 shows that while it topped out earlier than equities the wave B high coincided with the final top in the Dow and stocks, and they both sold off together afterward. The chart below shows that the subsequent period was an X wave and we now have wave A as a 5 wave fall and wave B at 61.8% done. Wave C down again can unfold, and when it does why should it not be the same coincidence, that both Bitcoin and the Dow sell off together from here? I am watching this indicator closely. Standalone wave C down should follow if prices do not breakout above the falling trendline and Bticoin should then be at new lows.

btcusd050918