RATE Group | Dow Jones Flashes Ultra-Bearish Sign as Investors Brace for Blood
86617
post-template-default,single,single-post,postid-86617,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Dow Jones Flashes Ultra-Bearish Sign as Investors Brace for Blood

24 Apr Dow Jones Flashes Ultra-Bearish Sign as Investors Brace for Blood

Posted at 22:00h in Bitcoin News by

Much to the chagrin of investors, Bitcoin has formed a close correlation to the traditional markets in recent times that has exposed the cryptocurrency to significant downwards momentum throughout the past several weeks.

Although BTC has been able to post some notable gains in recent times as the benchmark stock indices all stabilize, it is important to note that this stability may soon dissolve.

This may come about due to a highly bearish technical sign that the Dow Jones just flashed for the second time ever, leading some analysts to conclude that major downside is imminent.

If Bitcoin maintains its status as a risk-on asset, this looming decline could prove to be dire.

Bitcoin Runs as Stock Market Stabilizes, But Correlation Remains Strong

Bitcoin has been caught within a firm uptrend in the time following the cryptocurrency’s decline to lows of $3,800 in mid-March.

Yesterday, bulls extended this momentum as they pushed the crypto to its post-February crash highs of $7,800 –…

Source link

Tags:
, , , , , , ,