- Gold leads the charge on the 19th March 2020 and was first to enter its Consolidation on 14th April 2020.
- Bitcoin entered its consolidation on 7th May 2020 lagging Gold by just over 3 weeks.
- Gold exits its consolidation an starts to make new All time High @ $2,074 on the 7th August 2020.
- Bitcoin continues to consolidate for another 7 Days before it breaks its consolidation on the 27th June 2020.
- Bitcoin makes its new High on the 18th August 2020 @ $12,472 which was 11 days After Gold made its All Time High.
- Gold has just broken out of its Symmetrical Triangle and based on the previous 6 months is Bitcoin again about to follow suit?
Only time will tell...
Risk Management is the MOST IMPORTANT process we can understand as Investors and Traders.
These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!! *Prices will differ depending on Charts Used
let's see the numbers: "While the 1-month correlation between the two has risen lately all the way to 68%, the much more widely used 3-month measure stands at a mere 15%, while longer duration such as 1-year, the correlation coefficient is even lower". Short-term there is SOME correlation. Medium/longer-term - ZERO correlation.