onemanatatime

BTC/GOLD Ratio Is The Chart You Want To Watch #Bitcoin $XAU

BTC/XAU has come close to parity 3 times, first in 2013, second in Jan 2017, and third in this ongoing rally towards breaking ATH .

Typically, BTC/XAU has had strong rejection between 0.8-1, depending on the value of BTC on the exchange that you consider.

XAU/USD just painted a reversal on the monthly, which could signal the end of a 4 year downtrend. Unless BTC/USD breaks all time high this month, we may see another strong rejection as we climb closer to parity again.

As I shared on twitter , https://twitter.com/onemanatatime/status..., it either breaks this week, or will consolidate for a further 3 months before breaking.

I think It's only a matter of time we see BTC > XAU , but when will that happen?
Comment: Here's the chart of Gold painting that reversal candle:
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