Stocks heading higher; Can Bitcoin and friends follow?!
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Jan 16 2019
Bitcoin is becoming very interesting after that clear five-wave rally from 3100 lows into a wave A/1 and clear three-wave a-b-c corrective structure in wave B/2, which leads into a nice inverted H&S pattern, so we could have a perfect bullish setup and a potential rally for wave C/3. Just keep in mind that bulls can be confirmed only above 4100 region. Invalidation level remains at 3100.
We have seen a lot of periods when stocks and Cryptos were trading together. Question is, if BITCOIN is lagging and if NASDAQ suggests higher prices for Cryptos too. We see stocks turning up impulsively, so higher Crypto should not be surprise. Stock market rally, specifically NASDAQ100 could easily lift Bitcoin and friends higher since we see a tight correlation between stock and Crypto market.
BTCUSD and BTCUSD vs Nasdaq, 4h
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