CryptoCheck-

PAXG/BTC Local Highs - BTC ?!

Long
BINANCE:PAXGBTC   PAX Gold / Bitcoin
PAXG once again showing strength while BTC struggles. Obviously this causes its BTC pair to show even greater strength than its usd pairings. We can see highs from its BTC pairing are 4x higher still giving PAXG a lot of room.

The node volume and potentially seeing old resistance turn support is a great sign for PAXGBTC but worrying for what it means for BTC in the meantime.

Is PAXG going to be a hedge for many ? Is BTC getting attached more to the trends of the traditional market rather than being a hedge against it ?

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.