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$BTC 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐯𝐬 𝐔𝐒 𝐎𝐢𝐥
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Bitcoin relative to Oil is currently testing a major long-term monthly support trendline that has held since 2013.
This is a significant technical level. Historically, when BTC/Oil ratio respects this support, Bitcoin has tended to outperform Oil in the subsequent period.
If the ratio holds here, it increases the probability that oil will underperform Bitcoin in the coming months, reinforcing BTC’s relative strength.
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#USLaunchesNewStrikesOnIranOilRebounds