Correlation between SOXL and Bitcoin (important)
You're free on Sunday night, aren't you?![]()
Today I prepared a graph of the correlation between SOXL and Bitcoin for those who are with me, and this is a comparison of price scales, not%![]()
Red line → SOXL, yellow line → bit
This chart is a weekly chart from 2018 to now, what did you think?
It looks like a comparison chart that I can only think of as being correlated![]()
SOXL rose strongly despite the fact that Bitcoin and Bitcoin were falling during the blue circle period, but after that, SOXL fell to the same level as Bitcoin to match the balance sheet, and after finding this correlation, I thought it could be used as an indicator for Bitcoin to advance or lag![]()
So here's a recent daily chart comparison![]()
Sorry for ignoring the blue line!!
Despite Bitcoin falling from around 2024/6 to early July, SOXL has risen until early July, and it seems that there is only an inverse correlation here, but if you look at places where Bitcoin has taken the lead recently...
Do you understand?
If the amount that Bitcoin was falling ahead of time is now in the process where SOXL is falling, consider the current state of Bitcoin, am I the only one who feels like SOXL will rise from here?
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ジョモりん OP : Of course, I'm not bullish on this data alone; there is so much data that SOXL should maintain super bullish momentum now based on information, regularity, anomalies, and numerous indicators collected by myself, and I want everyone to tell me the reasons why they are weak, and since they are long-term traders, I also see comments such as those doing short-term technical analysis, but it's refreshing...![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Individual goals are different, and the financial assets they are aiming for and the funds they already have are different, so it is natural for various opinions to come up. However, many people read the relationship between the market cycle and ViX that I wrote the other day, so I thought it would be helpful to everyone, so I wrote something like this this time