Bitcoin could very well be the tell we are looking for to kick off the next leg down in the equity indices. First up, the past two years of price action culminating in the summer of 2022 which is increasingly looking like a counter-trend rally coming to an end. Now the same time period for DJIA: A hard break below the summer channels of both Bitcoin and stocks could lead to a global meltdown across all asset classes deep into the fall of 2022. For Bitcoin that lower channel line is at about 23,000. Coincidentally, the Dow's lower channel line is at about 33,000 (currently DJI @ 33,871). If Bitcoin breaks first, the Dow could quickly follow, along with our expectation for a pick-up in volatility across all markets. VXX 180 Minute Trend Model Standing-by for fresh Buy Signal
