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Bitcoin has received a sell signal right here with a correlated move down and with this weve had to readjust our charts a little bit to incorporate new data today Im going to be talking to you about Bitcoin and the S P 500 and what you need to be looking for in anticipation of this continued move down follow along because youre not going to want to miss this right now Im taking you to the trade confident.io website moving straight down to bitcoin first up is the Bitcoin emotional index here and we can see that as the price has dropped we have pushed back down into excited now as the price drops its expected that the emotional index will continue to drop as well and Id like to see it somewhere in neutral territory before we see any sort of reversals the Bitcoin while in smart money metric is on its way to reversing its sentiment towards long trades but were not quite there yet with an orange bar still pointing towards short sentiment while we do expect moves down to continue it
