Can the Gold chart help us to determine the low in Bitcoin
Some of us remember the epic crash in the price of Gold in April 2011.
Before the peak there was talk of $5000 gold . Some said that gold would not be sold at any price.
I actually made money , because I was guided by a more knowledgeable and experienced trader. So I am doing the same for you.
Those of you sitting is cash will have seen the size of your account (in BTC) , increasing in these last few days.
If you got out at the peak and bought today you would have almost doubled the amount of BTC that you owned.
For my analysis I use only sloping lines, nothing more, no fundamental analysis.
I posted these charts over a week ago, but to me they are so striking that I post them again. Even the slope gradient is the same 18-19 degrees.
If BTC follows the same pattern we could see a low about 8000 perhaps in the next 2 weeks then a gradual rise from there.
This is not my usual analysis. So lets wait and see what happens. I am currently out of the market after the NEO high a few days ago
Before the peak there was talk of $5000 gold . Some said that gold would not be sold at any price.
I actually made money , because I was guided by a more knowledgeable and experienced trader. So I am doing the same for you.
Those of you sitting is cash will have seen the size of your account (in BTC) , increasing in these last few days.
If you got out at the peak and bought today you would have almost doubled the amount of BTC that you owned.
For my analysis I use only sloping lines, nothing more, no fundamental analysis.
I posted these charts over a week ago, but to me they are so striking that I post them again. Even the slope gradient is the same 18-19 degrees.
If BTC follows the same pattern we could see a low about 8000 perhaps in the next 2 weeks then a gradual rise from there.
This is not my usual analysis. So lets wait and see what happens. I am currently out of the market after the NEO high a few days ago
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This is my imitation of the daily gold chart on a 60 minute BTC chart (so magnified 24hours) If we get a low around 6000 around March 1 then it will be an almost exact copy