GOLD and S&P 500. Important stages

Hi All,

I have two charts here in order to plan how I will approach BTC as well as GOLD, in the long term.

First Gold (CDFs):
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Observations and thoughts:
> A massive irregular dump at the time of the stock market crash (The Paul Volcker effect - controlling the price of gold in the interest of the USD).
> A potential diamond pattern in the making (can be a reversal or continuation)....I think reversal to save the USD
> Its not worth trading until the pattern is completed. At this instance, down to the 0.5 fib level.

S&P 500:
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Observations and thoughts:
> We hit the 0.5 fib. level of this impulse wave, strong resistance.
> 0.618 is the target (the rich lobbying for bailouts, buy lots of stocks, sell what they have already, cut their losses and pay back the loans)
> I'm expecting the bottom to be revisited or near about's or more lows (global economy impacted by the C.Virus).


Thoughts:
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> How does this effect BTC? it does in a big way.
> Its been proven on many occasions, both Gold and the global stock market (pivot points) drop (or go up), BTC responds at those junctures in the same.
> However BTC or crypto has exponential response.

FYI. BTC heading for 6900.


All the best.

Please give me a tick or a like as an appreciation of this post.

Regards,
S.Sari.

My previous post on GOLD. Got it right

BTC correlation post