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Doomboys

DJI & BITCOIN ARE HIGHLY CORRELATED. DOOMBOYS TREND IN CONTROL DJI & BITCOIN ARE HIGHLY CORRELATED When DJI bottomed on March 2009 (GREEN), this was when btc was created, early 2009. This also ended the global financial crisis of the early 2000s. On Oct 2011 (YELLOW), we saw a retest of the 200W ma on the DJI around 10500. This retest resulted in a massive surge in the btc prices: price rose from $2 to $15 or approximately ~600% surge We also noticed on AUG 2015 (BLUE), The DJI bottomed on the 200W ma at ~15300. This also resulted to the start of the famous bitcoin bull run and priced went from ~$200 to $20,000 or simply 10,000% ROI Recently, we witnessed a huge DJI sell off from 29600-25400 or ~14% decline and also 18-20% decline in btc prices ( from 10500-8400). The DJI is approaching two key points 1- W200ma at 23547 2-M200ma at 15095 If scenario 1 holds as a support, like it did previously, we can expected btc price to continue it uptrend to new all time in the near future However, if scenario 2 is to play out and we are to retest 15000 DJI, the most probable scenario is btc to break 6k and attempts to find support at mid 5K. Current price of btc is 8700. This would results in a 3000 points decline or ~35% decline. Two key areas for btc 1-5500, 0.618 fib retracement from 3100-14000 on log scale (light green line) 2-4200 0.786 fib retracement from 3100-14000 on log scale (blue line). But my extreme bearishness is 4800. This could be a strong buy zone regardless if it drops lower These two scenarios are valid if and only if the DJI find supports on its 200W ma at 15095. If the DJI is to retest it 200M ma, BTC will MOST likely break 3000 This will be invalidated if btc breaks 10500 before retesting these two key areas. I'm currently 75% bearish due the the monthly candle closing below 9k (was 60% before the monthly candle close)
BITSTAMP:BTCUSD
by Sen_Crypto
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