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BTC reaches Fibonacci objective as the Nasdaq 100 sets new record
Earlier today we noted a potential target/Resistance level for Bitcoin, at 78,997. That is a Fibonacci based level, as we explained earlier. Well it has just now been met and surpassed. The move higher in BTC this afternoon comes as the Nasdaq 100 sets a new all time high above 26,750 and close to 26,800 and totally disregards the technically negative close it set last night.
So, as you can see, the record gains in the Nasdaq are delivering more upside for BTC, as the former positive correlation between the two swings back into town. BTC just now reached 79,088, but it is stepping back a bit now, so there is a slight question mark as to whether this has more topside in the tank. It is currently trading at 79,010
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