Calculations indicate a decline is expected to continue just as it did in early 2018. Bitcoin’s structural design from December 2017 to April 2021 is similar to that of December 2014 to December 2017. Commercial Futures Traders still hold a significant number of bitcoin short positions relative to its value against the Dollar. Since bitcoin started trading in 2010, it is unknown what the impact will be with a substantial decline in the Dow, as discussed in the May 12, 2021 post. This may explain why Goldman Sachs set up crypto currency trading desk for their wealthy clients.
Intermarket structural analysis research