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nagihatoum
Oct 7, 2020 10:34 AM

BTC/XAU gold adjusted BTC price shows gap closed Long

BTCUSD/XAUUSDCoinbase

Description

The BTC price divided by the gold price reveals a gap equivalent in position to the 9.5k gap on the CME. Chart shows that this gap was wicked into during the initial drop from 11k. There is no other gaps left open on the chart. Furthermore the price action retested the trendline of the multi years triangle from ATH.

This chart shows that a move upward is more likely then down since there is nothing left to do down. It also means that BTC will outperform gold in the near future.
Comments
SunnyHillCapital
Brilliant work, keep up the amazing work!
nagihatoum
@SunnyHillCapital, Thank you very much.
PolarHusk
Testing key trendline of support. let's see if it can hold for a few days. Thanks for sharing your idea 🐻‍❄️😃
nagihatoum
@PolarHusk, kind of strange so much bearishness, yet price broke out of three years old structures and technically HTF is very bullish.
IamPhoenix33
@nagihatoum, Short squeeze incoming by the end of the month most likely, from my perspective. ♾️
nagihatoum
@IamPhoenix33, a big move should come sooner, price is compressing very tight at the moment.
alexthecalyx
very good work! Chapeau!
nagihatoum
@alexthecalyx, Merci bien.
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