Bitcoin cross-market analysis

Morning folks,

It is nothing to say about short-term picture, because, as you could see by yourself, BTC is just creeping higher without any particular patterns or something. The scale of the motion so wide that it makes no sense to look at intraday charts. The major question is when finally market takes the breath.

Previously we already have shown you strong correlation of BTC market and 10-year US yields. Our next BTC target, as you know is ~63-64K. Now take a look at weekly US bonds chart. market is coming to strong resistance area of 1.40-1.45 area, which stands since 2012. Since current upside action is the first one after strong collapse - reaction on resistance definitely should happen. Usually it takes 50-60% in common situation, but for us even 30% pullback becomes an a event. By our suggestion 1.45 might be reached at the same moment when BTC hits 63K.

If our suggestion will be correct, we should get multiple trading setups on daily and later on weekly chart while this pullback will be underway.