The Bitcoin vs. Nasdaq Signal Has Flipped Bullish
BTC when published $80,203Now $80,617 ▲ +0.52% since it was published
▶ Bitcoin Magazine The Bitcoin vs. Nasdaq Signal Has Flipped Bullish Tech stocks are selling off, and Bitcoin is holding. Today’s Chart of the Day looks at Bitcoin priced in tech stocks, the Bitcoin-to-Nasdaq ratio, which reclaimed its 200-day moving average on September 18 after 235 straight sessions below it and hasn’t closed under it since. Sean Hagan walks through why Bitcoin was higher one year after reclaims like this five of six times with a median gain of roughly 84%, why this cycle’s 62% reset was the shallowest on record, and what the 2021 fake-out looked like by comparison. He also gives his invalidation level and his $100K line in the sand.
First reported by Bitcoin Magazine. This page is a short excerpt; the full text is theirs.
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