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A very strong correlation between Bitcoin and oil movement currently and March 2022 movement;
Oil on the weekly chart reached the March 2022 high, candle of March 7, and now in a very similar candle to that one.
Bitcoin closed a weekly candle yesterday very similar to the Bitcoin weekly candle on March 7, 2022.
There is a similar behavior pattern where oil is at its peak and Bitcoin is at a corrective low during the downward trend.
In March 2022, Bitcoin rose and rebounded for almost two green weeks after oil reached its peak, then Bitcoin broke the low and made new lows.
If the reasons are present and the same behavior repeats, we might see two green weekly candles for the market before continuing the decline, God knows best.
I'm not a fan of comparison schools, but the strong similarity caught my attention while browsing the chats...
$BTC $SOIL
#GateFebruaryTransparencyReport #GlobalOilPricesSurgePast$100 #MicroStrategyAddsBTCFor1.28B #KhameneisSonElectedIransLeader