Bitcoin Set to Rally as Stocks Shape Up for a Bounce?

The U.S. stock market fell into the second half of last week with investors becoming more jittery. The Iran conflict, and the approaching U.S. midterm elections are taking centre stage. Extreme fear pervades the market. With oil, bond yields, and the DXY Index all potentially topping, could a contrarian rally begin that also feeds into Bitcoin? Oil makes a top Source: TradingView The chart for WTI Crude Oil illustrates that a local top could have been set for now. A descending trendline started way back in March of this year, and this is now the fourth time that the oil price has tested this trendline. A rejection looks as though it is starting to take shape. It can also be seen that the oil price is in an ascending channel.

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