US10Y is about to break up and so is Bitcoin.

Panjang

Hasil Bon Kerajaan Amerika Syarikat 10 Tahun (TVC:US10Y)

TVC:US10Y Hasil Bon Kerajaan Amerika Syarikat 10 Tahun

trendanalysis chartpattern btcusd bitcoin btc btcusdt us10y

Bonds and crypto movements are known to be highly correlated. In fact, some like to refer to cryptos as digital bonds. Here I have compared US10Y (candles) with BTCUSD (rescaled and white line) on the daily chart. Do I need to say anything extra? The US10Y is about to have a MA50 and MA100 golden cross and the MACD line has recently turned positive. The consensus among Wall Street analysts is that such an upward breakout will happen soon. Another reason I am super bullish on Bitcoin and crypto as a whole is the China news of declaring cryptocurrency trading illegal! Such a huge event only caused a minor 5% drop that is in the process of recovering.

Penafian

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