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Blocksmith Says: Nasdaq Bullish, So Crypto Bullish

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Today I’m looking at the Nasdaq futures daily chart – a simple and short view. Nasdaq is still highly correlated with crypto (94% with Ethereum and 78% with Bitcoin from mid-June).

We are very close to an 80-day cycle low in Nasdaq and a rally should be imminent. Notice that the June low was significant, at least a 40-week cycle trough, which means the upward force of this big and relatively new cycle is still present and bullish. Get ready to reposition.