Bitcoin mimics mood for risk

The strength of Bitcoin’s (BTC/USD) daily trend is waning.

It’s weekly trend is turning lower.

I’ll look for it to trade to $50,400 (+/- $1,000) before deciding on a call for a call to $40,000.

In the interest of correlating BTC/USD to the mood in risk taking, I’ve overlaid the AUD/JPY in the chart below.

September 26, 2024

by Rob Zdravevski

rob@karriasset.com.au