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Correlation

JICPT| NQ may test 10000 level for 1st time since June 2020Hello everyone. From the crypto currency to bond market, global market got great hit by unexpected surging inflation and rate hikes followed. Even gold dropped, the safe heaven asset faces selling pressure as well. It seems only the USD got attraction. So, what about NQ? My last published idea titled 'NQ may drop further to 11500!' worked. It bounced back from 11500 until the flip level marked on the daily chart. By using the fib extension tool, I found a relative stable demand level around 10000 which is also a key whole figure. I mean, price may retest the level amid more aggressive rate hikes concerns. That'll be a 40% drop from the high created in Nov of last year. But based on my historic annual return analysis, if NQ achieve negative return this year, the next 2 years will be fantastic for bullish buyers. The worse the better. What do you think? Give me a like if you're with me.
FX:NAS100Short
by JICPT
Riot Blockchain solidified support for a move to the Upside.Riot Blockchain has been overlooked over the last few months. As Clearly seen on the chart, the correlation to Bitcoin's movements is closely correlated. > I Believe that an ascending support line has been tested multiple times but both Riot Blockchain and Bitcoin. > With the momentum driven by earnings season in the stock market providing significant upside potential for all equities, especially in the Tech Space. > Combined with Bitcoin's Recent strong upwards momentum from yet another confirmation of strong support. > We are likely to see a rapid rise in the price of Riot over the next few weeks. I think this is an ideal range to DCA at the lowest risk level we have seen Riot Blockchain range in for a significant time. 1) Be greedy when others are fearful. 2) If you believe in a Companies business and promising future outlook. Don't let a discount be the reason NOT the DCA in lower to a stock you believe will be significantly higher in the long term. 3) The fundamentals are one, if not the strongest in the mining business. With huge mining capacity coming online over the next few months. >>> Eyes on the Medium to Long Term Chap <<< Just one Long term focused Investor/Traders Opinion, not financial advice.
NASDAQ:RIOTLong
by FortunaAlgoAnalytics
59
LUNC vs LUNA - Who Will Win?Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. Many creators / authors here perfectly covered the fundamentals regarding LUNC and LUNA. So I thought it would be a good idea to translate it into numbers, how I digest things better as a pure price action trader. We can clearly see that LUNC and LUNA has been positively correlated lately , both in a bearish trend and approaching a demand zone in green. Both LUNC and LUNA are stuck inside a range now. Let's see which one will win the battle by breaking above the last major high first. (marked in gray for both) Which team are you in? LUNC or LUNA? None? and why? Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
23
DOLLAR -vs- BTC (Fed is dead, not just yet)Trend: As BTC becomes less volatile with time due to its increased market cap, long term, fundaments for BTC get much more stronger. It's a fight between FIAT and BTC (opposite correlation) Medium term, the trend is in favor of the dollar and this won't change until they both reverse their trends (lines crossing in the chart). Remember, the Trend is your friend. And, now, it is against BTC. Fundamentals: BTC is nothing but a public consensus that aims to stop a central party from manipulating the supply of our currencies. At the end, inflation is a form of taxation. The reality is that the State and the Taxes as we understand them today will eventually go away. PoW is a store of value form our labor. PoS promotes productivity. Trustless systems (like blockchain) remove violence and wars. Economic outlook: The current economic outlook is corrupt. The FED has to either send us to a recession or embrace its defeat as an authority. The FED is not helping, it is slowing growth. They should take advantage; we are in the perfect storm to regulate and promote blockchain solutions that help us with new forms of energy, like solar. Imagine an auto-balanced grid of solar panels with batteries interconnected where the exceed is traded. Imagine insurances where "money" is from and for the community. Imagine telecommunications empowered and owned by the people. It is not that difficult to envision the future.
TVC:DXYShort
by cesarbmx
2
LUNC vs LUNA - Correlation Shift!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. Many creators / authors here perfectly covered the fundamentals regarding LUNC and LUNA. So I thought it would be a good idea to translate it into numbers, how I digest things better as a pure price action trader. Let's split the charts into two phases: PHASE 1: Green Level: 29 May 00:00 LUNC (Left Chart) rose 117% while LUNA (Right Chart) rose 28% The correlation between LUNC and LUNA was positive. But LUNC won the battle big time! As both assets rose, but with LUNC moving upward more aggressively! HOWEVER... here is when it becomes interesting! PHASE 2: Purple Level: 30 May 09:00 LUNC (Left Chart) dropped 57% while LUNA (Right Chart) rose 50% The correlation suddenly shifted from Positive to Negative. What really happened in PHASE 2 ? Are LUNC holders taking profit to buy LUNA? Which team are you in? LUNC or LUNA? None? and why? Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
9
BTCUSD / COINBASE Correlation I have been watching how the Coin base equity stock is trading compared to Bitcoin . We are able to spot very good trading opportunities, such as the bear trap shown above. As of now, $COIN closed at 75.29 on Friday afternoon, which is above last weeks highs. Most people will try to go long because they consider that a breakout. On the other hand, on Friday BTCUSDT was near the lows of last weeks. Now, its at near highs. I have already published another idea explaining why COIN is a sell. Will be following my stop loss and take profit levels. I'll be quick to switch sides if i see the right price action.
BITSTAMP:BTCUSD
by StavrosK
Crypto Underperforms Equity (Bearish)I rescind my previous " long " on crypto. As we can see, the decoupling between crypto and equity has begun. Although I am not here to say how long it will happen, or exactly why it is happening, I know that as long as ETHUSD keeps falling, BTCUSD cannot compete with $SPY. A theory is because stable coins were crashing , and NFT's are doing the same . I mean, crypto was supposed to be an "Inflation Hedge", but now crypto is considered one more risk asset that "often moves with the stock market." ( Forbes ). Now that its not, it is reason for concern. Equity markets HAVE found their temporary bottom as I've stated in my TA from 5/9 , and now they are "ripping". It is concerning that crypto is not following. In fact, ETHUSD is currently falling. More to come later. More mistrust within crypto + equity ripping up while Crypto is stable / falling is further explanation for what is happening as of now. Unless BTC can push above 34,000's and hold, I see no hope for crypto in the near future. Please Like and Comment to see more. Kind criticism, helpful feedback or praise is always welcome here :). M
BITSTAMP:BTCUSDShort
by matteophone
4
MKRUSDT market structure through Support and Resistance levels1. MKRUSDT trading pair is in a global downward price channel. 2. The violet zone is the price area where the most amount of volume was traded. Through identification of areas of support and resistance, we identify areas in the market which will form barriers to the trading timeframe trend. We`ve defined our battlefield. Price then moves within the framework defined by these levels, back and forth between levels of support and resistance, based on the decision making of traders.
by Deviantor_Wayne
Decoupling trade in the making gets a Like from ProfZero! 👍🏻INVESTMENT CONTEXT In a remarkably divergent trade, on May 19 BTC regained USD 30k threshold and many Layer-1 currencies (ADA, ETH, XRP) moved up at least 4% while the S&P 500 headed towards the 7th consecutive week in red U.S. President Joe Biden is touring Asia in an attempt to launch the Indo-Pacific Economic Framework (IPEF), countering criticism that American interest in the region had mainly security components German industrial goods producer prices rose by 33.5% in April, setting a new record on the back of sharp increases in energy, metals and food prices Russia will increase its military presence in the West of the country, in response to "increased military threats" posed by Sweden and Finland joining NATO PROFZERO'S TAKE ProfZero confesses a quite puzzled feeling after May 19 trading day. What started deeply in the red staged a rebound towards the end of the session, as tech stocks, and in particular blockchain equities (CoinBase, COIN; MicroStrategy, MSTR; RobinHood, HOOD) all surged at least 4.50% thanks to cryptocurrencies refusing to sideline in bear territory. ProfZero already noticed an interesting decoupling trade between the battered blockchain space and the market at large - yet prudence calls it too early to see a harbinger of a broader risk reversal The dramatic 33.5% increase in German producer prices in April reflects how Europe's leading economy struggles to keep up with soaring energy and commodity prices as well as growing supply bottlenecks caused by the war in Ukraine and Chinese lockdowns. ProfZero can't help but to see how a portion of such greater costs is destined to be passed on to consumers - thus inevitably putting pressure on household consumption in Q3-Q4 ProfZero is not surprised about Russia's ambivalent reception of Sweden and Finland joining NATO - after all, on January 30, Nikolai Patrushev, the secretary of Russia’s security council, said "We do not want war. We don’t need it at all". True, in fact - no one needed that
CME:BTC1!
by ProfZero
Tracking the correlation/decoupling of BTC & tech stocks🚨🌊🔜👀This idea seems to be continuing on pretty well, showing the "slow" decoupling of BTC and the stock market. Currently the trend has been broken and there seems to be a confirmed retest of the upper trend. A good bounce off this should see the ratio move towards the 0.29 level and a break of that resistance level would signal a strong continuation. This (to me) would be the final signal that BTC has begun (perhaps in a big way) to decouple from the growth/fall rate of the stock market. This may be sparked by retail returning to the market, institutional investors taking a more BTC targeted strategy, or a combination of the two. If this is mostly caused by institutions then I would also be looking to see the "hype news" starting to come out, with headlines such as "Bitcoin will hit $100k" and things like that. As the US market goes into recession, big investors may just look to BTC and other cryptos to meet there profit-making needs. IMO this is how the next "short-term" bull-run may begin.
NASDAQ:NDXT
by DoozerInvest
1
US Tech Index vs. BitcoinBy charting the growth rates of both the NASDAQ US TECH 100 and Bitcoin, it clearly shows a recent decline against BTC. This decline may also show the recent correlation Bitcoin has had with the NASDAQ, as the closer it gets to 0, the more correlated they are. It has broken an important trend, which is in favor of the growth rate for BTC. IMO this shows the beginning of a decoupling of the two, and the possibility that BTC will begin to grant more returns, even as the NASDAQ declines overall.
NASDAQ:NDXT
by DoozerInvest
Waiting for the worst...In the chart we have the SPX versus the US10Y (US 10 Year Government Bonds Yeld Rate, in the blue line). We are at a peak moment. In principle, the rate in US10Y is inverse, that is, when it goes down, more people are buying — more people leave the stock market and buy government bonds. The correlation with SPX is high in periods of extreme volatility, as shown in the circles. Frighteningly, the US10Y is close to the same levels as March/2018 and October/2018. If it drops like it did before, will we see a strong correction in global markets? Analyzing the US10Y alone: The US10Y has broken up a long bearish channel. The RSI (Relative Strength Index) indicates an extremely stretched value, signaling a possible reversal to the downside. On the weekly chart it is in a resistance test region, similar to the periods mentioned.
SP:SPXShort
by andre_007
While Aussie Finishing Correction, Stocks Approaching SupportHello traders and investors, today we want to update SP500 and AUDUSD charts, as we see them finishing a correction and approaching strong and important support zone. As you can see on the left correlation chart between SP500 and AUDUSD pairs, always when Aussie finds the support, we see SP500 stabilization. Well, if we take a look on the right Aussie chart from Elliott Wave perspective, we can clearly see a corrective movement, ideally a complex (W)-(X)-(Y) decline. We are already tracking final wave (Y), but it has to be finished in three legs A-B-C and as you can see, wave C of (Y) is still missing. From technical point of view, ideal support for SP500 here around 4000 level, maybe slightly lower, while Aussie may retest 0.68 support zone before we will see a bullish reversal. So, if we are on the right path, then stocks might find the support soon, as we see Aussie in final stages of a corrective decline, where final leg may also occur as a spike down like back in March 2020 and January 2019. Happy trading! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
Bitcoin Stock Market & Recession CorrelationI wanted to create a view to hightlight correlation and Bitcoin (BTC) with the stock market (here the S&P500). This chart has many areas of interest. It shows Bitcoin can be completely detached from the stock market (as it runs it somewhat independent cycles). It also show Bitcoin can be indicating a stock market top. We only have one recesssion to observe Bitcoins behaviour. It show Bitcoin seems to have been affected by the recession in 2018 (respectively the 20% drop in S&P500). If we consider where in the cycle Bitcoin is and expect a recession in global markets it is difficult if not just simply impossible to predict Bitcoins behaviour. The assumption is Bitcoin can act independent of the market. Market participants could more and more use Bitcoin and not to forget the crypto market as a whole to hedge inflation. What the chart shows beautifully is that Bitcoin clearly has the higher rates of return! ;) -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
SP:SPXLong
by CarpeMomentum
1
BTC, NDXT, and DXY at a CrossroadsPreviously, I’ve demonstrated stepping-stone descending horizontal Wyckoff re-distribution trading ranges for BTC. The fact that the BTC price action broke the trading range support to the downside for a sustained period of time supports the notion of a re-distribution trading range. I opened a short position near the trading range support ($41,313). Since then, my first target of $37,400 has been hit. Based on an analysis of the Phoenix Ascending (PA) indicators (bottom panel), I expect an upthrust toward the trading range support followed by downward price movement. Short position open: $41,313 Take profit target #1: $37,400 Profit/Loss (%): 9.44 Significant bars, which help define important areas of support and resistance, are given by the blue shading. The blue arrows point to volume spikes. Wyckoff abbreviations: automatic rally (ARa), buying climax (BC), selling climax (SC), secondary test (ST), upthrust (UT), failed upthrust (FUT), last point of supply (LPSY), shakeout (SO), sign of weakness (SO), Phase A (Ph A), Phase B (Ph B), Phase C (Ph C), Phase D (Ph D), Phase E (Ph E).
BITSTAMP:BTCUSDShort
by Eightchains
3
Elliott Wave Analysis: AUDJPY May Have Found The TopHello traders! Today we will talk about AUDJPY pair in which we see a completed Elliott wave five-wave bullish cycle and potential top formation after recent break below strong trendline. In Elliott wave theory, we always have to expect a minimum three-wave reversal after a completed five-wave cycle. We are now observing a minimum three-wave A/1-B/2-C/3 decline, where wave C or 3 can be already in play. The main reason why AUDJPY could be turning down is strong support on US bonds and also still bearish looking stocks in current risk-off sentiment. A positively correlated SP500 is just about to break Feburary 2022 lows, which can easily send AUDJPY pair lower, at least towards 88 area for wave C, if not even down to 85 area for wave 3. Trade well! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Short
by ew-forecast
MACRO BEARISH PICTURE FOR BTC/ STOCKSSo BTC has been correlated to stock market especially to NASDAQ nearly perfectly. Very hard to predict any moves on lower time frames as we rely on traditional markets. Best to do is bid at the best monthly/weekly supports in low 30ks. Looking at two scenarios: 1. Either we bounce from low 30ks and continue crab range into the mid 40s 2. Or we capitulate below support, loose that level and then bounce back much stronger with new ATH target. BTC currently still at the weekly support in 38k and it finds the bids there. Would definitely not short in that area until we lose 38k and then retest it. Patience wins the game so still waiting for 30ks to play out OR a move above 43k to show strength.
by TRDr11
DXY vs BTCDXY is inverse correlate with BTC price. When the $ is crashing (or slowly grinding) the BTC price is going parabolic (or performing well). The assets that have a high risk (crypto) are not performing very well when the $ index is rising. Best strategy now is to be patience and zoom out. Even if the recession is confirmed, we'll have the best buying opportunities of the lifetime no matter what. The fear and downtrends always are followed by greed and uptrends. The question is, how long this downtrend will take?
INDEX:BTCUSD
by cryptoforevery1