BITCOIN When Yuan gains Bitcoin shines. And it's already started

30 Sep

Bitcoin (BTCUSD) has already started to break-out last week as it closed the first 1W candle with a Lower High in 6 months. Since the August 05 bottom, we've been seeing a strong bullish build up on BTC and the reason may be simpler than you thought.

As this 1W chart shows, historically when the USDCNY pair (red trend-line) tops by forming Lower Highs and starts declining (aggressively), Bitcoin always initiates its Parabolic Rally phase.

This basically means than when the Yuan gains strength, Bitcoin shines. The USDCNY's previous Cycle in particular, is virtually identical to the current one (2022 - 2024). All the above indicate that we may be on the verge and witnessing the start of BTC's most powerful part of the Bull Cycle.

But what do you think? Will a continuous fall on USDCNY fuel an aggressive rally on Bitcoin? Feel free to let us know in the comments section below!

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