Similarities in Price Action: Bitcoin and NASDAQ after the Dotcom Bubble
Introduction
In a recent video by Eric Krown on the Crypto Krown channel, he explores the potential similarities in price action between Bitcoin and NASDAQ after the dotcom bubble. Despite history not repeating itself exactly, there are interesting patterns that rhyme between the two assets. This analysis aims to provide some insights into these similarities.
Hidden Bearish Divergence in Bitcoin’s Short-Term Price
Krown highlights the potential for hidden bearish divergence in Bitcoin’s short-term price, suggesting a possible downside move. However, this divergence would need confirmation with a lower closure.
Comparing Major Highs and Lows in RSI on the Monthly Timeframe
Krown compares the major highs and lows in the RSI on the monthly timeframe for both Bitcoin and NASDAQ. The RSI numbers are relatively close, indicating similar levels of market conditions.
RSI Numbers Comparison on the Weekly Timeframe
On the weekly timeframe, Krown observes even closer similarities in the RSI numbers between Bitcoin and NASDAQ. This further supports the notion that the two assets tend to trade similarly.
Marking Off Current RSI Levels after the Recent Low
Krown marks off the current RSI levels after the recent low for both Bitcoin and NASDAQ. This allows him to track the movement and analyze potential correlations between the two assets.
Analyzing Weekly RSI and Fibonacci Retracement for NASDAQ and Bitcoin
Krown dives into the analysis of the weekly RSI and Fibonacci retracement for both NASDAQ and Bitcoin. These tools provide further insights into the patterns and potential support and resistance levels for each asset.
High Correlation and Similar Trading Patterns between NASDAQ and Bitcoin
NASDAQ and Bitcoin have a high correlation and tend to trade similarly, as evidenced in their respective price actions. This suggests that movements in NASDAQ could potentially provide insights into Bitcoin’s price behavior.
Bitcoin Still in Early Stages Compared to NASDAQ Based on RSI Analysis
Based on the RSI analysis, Bitcoin is still in the early stages compared to NASDAQ. This implies that there might be more room for growth and higher potential for price movement in Bitcoin.
Interesting Patterns in Fibonacci Retracement Levels for NASDAQ and Bitcoin
Krown points out interesting patterns in the Fibonacci retracement levels for both NASDAQ and Bitcoin. These levels can serve as significant support or resistance areas, providing valuable information for traders.
Analyzing Price Movements through Volatility on NASDAQ and Bitcoin
Volatility can also be used to analyze the price movements of NASDAQ and Bitcoin. Krown suggests that understanding the volatility levels can provide insights into potential market movements and strategies.
Possibility of Sideways Movement or Move Towards 786 Retracement Level
Based on the analysis, there is a possibility of sideways movement or a move towards the 786 retracement level for both NASDAQ and Bitcoin. This suggests that the assets might consolidate or experience a pullback before further price action.
Subjectivity of Fractals and its Limitations
While fractals can provide some valuable insights, they are subjective and may not always provide objective measurements. Traders should exercise caution and consider multiple indicators and analysis methods for a comprehensive understanding of the market.
Brief Discussion on CME Futures and Current Momentum Levels
Krown briefly touches on CME futures and the current momentum levels. These factors can also play a role in understanding the market dynamics and potential price movements.
Short-Term Downside Potential for Bitcoin within Current Range
Short-term movements suggest possible downside potential for Bitcoin, but Krown notes that this would likely occur within the current range. Traders should consider this range when making investment decisions.
Welcome back to the Crypto Krown channel! In this video, Eric Krown discusses the similarities in price action between Bitcoin and NASDAQ after the dotcom bubble. He starts by mentioning a potential hidden bearish divergence in Bitcoin’s short-term price, but quickly moves on to the main topic of the video.
Eric compares the major highs and lows in RSI on the monthly timeframe between Bitcoin and NASDAQ. He highlights the similar RSI numbers on the weekly timeframe as well. The current RSI levels after the recent low are marked off for both Bitcoin and NASDAQ.
The content explores the analysis of the weekly RSI and Fibonacci retracement for both NASDAQ and Bitcoin. It emphasizes the high correlation and trading similarities between the two. The analysis suggests the possibility of sideways movement or a move towards the 786 retracement level.
Eric also briefly touches on the subject of CME futures and provides insights on the current momentum levels. He concludes the video by wishing the viewers the best and signing off.
Stay tuned for more interesting crypto content on the Crypto Krown channel!
In a recent video on the Crypto Krown channel, Eric Krown highlights the potential for hidden bearish divergence in Bitcoin’s short-term price. While this divergence has yet to be confirmed, it suggests that Bitcoin may have a downside potential in the near future.
But the analysis doesn’t stop there. Krown also compares the price action of Bitcoin and NASDAQ after the dotcom bubble, revealing some interesting similarities. On the monthly timeframe, major highs and lows in RSI are compared between the two assets, with the RSI numbers remaining similar on the weekly timeframe as well.
By analyzing the RSI levels after the recent low, Krown suggests that Bitcoin is still in the early stages compared to NASDAQ. Furthermore, Fibonacci retracement levels show interesting patterns on both NASDAQ and Bitcoin, indicating the possibility of sideways movement or a move towards the 786 retracement level.
Volatility is another factor that can be used to analyze the price movements of both assets. Krown’s analysis suggests that both Bitcoin and NASDAQ have a high correlation and tend to trade similarly.
However, it’s important to note that fractals can be subjective and may not provide objective measurements. Additionally, Krown briefly touches on CME futures and the current momentum levels.
The analysis of Bitcoin’s price action in comparison to NASDAQ after the dotcom bubble reveals some compelling similarities. While short-term movements suggest possible downside potential for Bitcoin, it remains within the current range. Best wishes from the Crypto Krown channel!
Similarities in RSI Levels
When comparing the RSI levels on the monthly timeframe for both Bitcoin and NASDAQ, there are striking similarities. The major highs and lows in RSI are remarkably close, indicating that both markets experienced similar price movements and trends. For example, the RSI highs for Bitcoin and NASDAQ were almost identical, with only a slight difference between the two. Similarly, the RSI lows for both assets were also in close proximity.
Mirror Effect on Weekly RSI
Even on the weekly timeframe, the RSI numbers for Bitcoin and NASDAQ show a mirror effect. The RSI levels are similar, further reinforcing the correlation between the two markets. This similarity suggests that Bitcoin may follow the price action of NASDAQ after the dotcom bubble.
Current RSI Levels
The analysis also takes into account the current RSI levels after the recent low for both Bitcoin and NASDAQ. By marking off these levels, it becomes evident that Bitcoin is still in the early stages compared to NASDAQ. This information suggests that Bitcoin may have more room for growth and potentially replicate the price action of NASDAQ in the coming months or years.
The comparison of RSI levels on both the monthly and weekly timeframes indicates that Bitcoin and NASDAQ have a high correlation and tend to trade similarly. This information can be valuable for investors and traders looking to gain insights into Bitcoin’s potential price movements based on historical patterns observed in other markets. When analyzing the price action of Bitcoin and NASDAQ after the dotcom bubble, it is interesting to note the similarities in the RSI numbers on the weekly timeframe. The RSI is a popular technical indicator that measures the strength and speed of price movements.
On both Bitcoin and NASDAQ, we can observe similar patterns in the RSI numbers. After the major highs, the RSI comes down to similar levels, indicating a potential correction or consolidation. Then, as the price recovers, the RSI climbs back up above the neutral zone, suggesting a bullish momentum.
For example, on the NASDAQ chart, the RSI reaches a high of 66.0, while on Bitcoin, it reaches a high of 68.0. Similarly, after the lows, the RSI drops to around 41.0 on both charts.
These similarities in the RSI numbers indicate that Bitcoin and NASDAQ tend to trade in a similar manner and exhibit similar price movements. This could suggest that Bitcoin is still in the early stages of its price action compared to NASDAQ.
Analyzing the RSI numbers on the weekly timeframe provides valuable insights into the potential future price movements of Bitcoin and NASDAQ. After analyzing the major highs and lows in the monthly RSI for both Bitcoin and NASDAQ, it is interesting to mark off the current RSI levels after the recent low. This allows us to compare the current state of both assets and look for any similarities in price action.
On the monthly timeframe, Bitcoin’s RSI level is around 44.16, while NASDAQ’s RSI level is at 41.38. Although not exactly the same, these levels are fairly close and suggest a similar trend in both assets.
Moving on to the weekly timeframe, the RSI numbers for Bitcoin and NASDAQ show an even closer correlation, indicating a similar trading pattern. This aligns with the high correlation and tendency for both assets to trade similarly.
By marking off the current RSI levels, we can see that Bitcoin is still in the early stages compared to NASDAQ, suggesting that there may be further potential for growth. This analysis highlights the similarities in price action and the possibility of continued upward movement for Bitcoin.
It is important to note that fractal analysis, although interesting, may not always provide objective measurements. However, when combined with other indicators like Fibonacci retracement, it can be a useful tool for analyzing price movements.
Considering the volatility of both Bitcoin and NASDAQ, there is a possibility for sideways movement or a move towards the 78.6% retracement level. This could indicate a period of consolidation or a potential decline before another upward trend.
The analysis of the current RSI levels after the recent low suggests that there are similarities in price action between Bitcoin and NASDAQ. These similarities, along with other technical indicators, provide insights into the potential future movements of both assets. When comparing Bitcoin and NASDAQ after the dotcom bubble, there are interesting similarities in price action that can be observed. One key aspect of analysis is the comparison of major highs and lows in the Relative Strength Index (RSI) on the monthly timeframe for both Bitcoin and NASDAQ. These RSI numbers also show similarities on the weekly timeframe. Currently, the RSI levels after the recent low are marked off for both assets.
Additionally, the analysis delves into the examination of the weekly RSI and Fibonacci retracement for both NASDAQ and Bitcoin. It is important to note that NASDAQ and Bitcoin have a high correlation and tend to trade similarly.
The RSI analysis reveals that Bitcoin is still in the early stages compared to NASDAQ, indicating the potential for further price movements. Furthermore, the Fibonacci retracement levels show interesting patterns for both assets.
Volatility is also considered when analyzing the price movements of NASDAQ and Bitcoin. The analysis suggests the possibility of sideways movement or a move towards the Fibonacci 786 retracement level.
It is important to note that while fractal analysis can be subjective and may not provide objective measurements, it offers valuable insights to consider.
Furthermore, the discussion briefly touches on CME futures and the current momentum levels, highlighting additional factors to consider when assessing Bitcoin’s price.
The analysis points towards potential downside potential for Bitcoin in the short term, while also highlighting similarities in price action between Bitcoin and NASDAQ after the dotcom bubble. Through the examination of RSI levels, Fibonacci retracement, and volatility, we gain valuable insights into the potential future price movements for both assets. Happy trading! In a recent video by Eric Krown on the Crypto Krown channel, he discusses the similarities in price action between Bitcoin and NASDAQ after the dotcom bubble. The analysis focuses on major highs and lows in the RSI (Relative Strength Index) on the monthly timeframe for both Bitcoin and NASDAQ. Krown also compares the RSI numbers on the weekly timeframe and marks off the current RSI levels after the recent low for both assets. The discussion further delves into the analysis of the weekly RSI and Fibonacci retracement for both NASDAQ and Bitcoin, as well as the use of volatility to analyze their price movements.
Correlation and Price Patterns
NASDAQ and Bitcoin have shown a high correlation and tend to trade similarly, as observed in their price action. Both assets have experienced major highs and lows in their RSI readings, with similar RSI numbers on the weekly timeframe. This suggests that Bitcoin is still in the early stages when compared to the price movement of NASDAQ. Additionally, both NASDAQ and Bitcoin exhibit interesting patterns in their Fibonacci retracement levels, indicating potential levels of support and resistance.
Volatility and Analysis
Volatility can also be used to analyze the price movements of NASDAQ and Bitcoin. By examining the RSI levels and volatility indicators, Krown suggests the possibility of sideways movement or a move towards the 786 retracement level. However, it is important to note that fractals, which are used in this analysis, can be subjective and may not provide objective measurements.
Comparing Major Highs and Lows on Monthly RSI
When analyzing the price action of Bitcoin and NASDAQ after the dotcom bubble, there are several similarities in their price movements. By comparing the major highs and lows on the monthly RSI, we can observe that Bitcoin’s RSI numbers are very similar to those of NASDAQ. The RSI highs on both Bitcoin and NASDAQ are close to each other, showing a mirrored effect. Similarly, the RSI lows on both assets align closely as well. This indicates that Bitcoin is still in the early stages compared to NASDAQ, based on RSI analysis.
Weekly RSI Numbers
On the weekly timeframe, the RSI numbers for Bitcoin and NASDAQ are even more closely aligned. This further emphasizes the correlation between the two assets and strengthens the argument that Bitcoin is still in the early stages compared to NASDAQ.
Current RSI Levels and Future Possibilities
The analysis of the recent low and the RSI levels after that low reveal interesting patterns for both Bitcoin and NASDAQ. This suggests the possibility of sideways movement or a move towards the 786 retracement level. However, it’s important to note that fractals can be subjective and may not provide objective measurements.
Fibonacci Retracement Levels
In addition to the RSI analysis, Fibonacci retracement levels also show interesting patterns on both NASDAQ and Bitcoin. These levels can aid in understanding potential price movements and trends.
Volatility as an Analytical Tool
Volatility can be used to analyze the price movements of both NASDAQ and Bitcoin. By assessing the volatility of these assets, traders can gain insights into potential market movements and make informed decisions.
Conclusion
In conclusion, there are striking similarities in price action between Bitcoin and NASDAQ after the dotcom bubble. By comparing the major highs and lows in RSI on the monthly timeframe and the RSI numbers on the weekly timeframe, we can see how these two assets exhibit similar patterns. Both Bitcoin and NASDAQ have a high correlation and tend to trade similarly, indicating a potential relationship between the two.
The analysis of the weekly RSI and Fibonacci retracement for NASDAQ and Bitcoin provides interesting insights. While fractals can be subjective and may not provide objective measurements, the volatility in both assets can be used to analyze price movements. The analysis suggests the possibility of sideways movement or a move towards the 786 retracement level.
It is important to note that short-term movements indicate a possible downside potential for Bitcoin, but within the current range. It is still early stages for Bitcoin compared to NASDAQ, as indicated by the RSI analysis.
In conclusion, the similarities in price action between Bitcoin and NASDAQ after the dotcom bubble demonstrate the potential for history to rhyme. Best wishes, and signing off.
(Note: This post is based on the analysis of Eric Krown on the Crypto Krown channel. Please do your own due diligence when making investment decisions.)
