thinking of 2 ways, rising from this basecamp or retracement. But my opinion, it seems promising. So let's wait and see...
COINBASE:BTCUSD NASDAQ:GOLD Bitcoin and Gold are more and more often compared with each other. And for crypto currency this is another reason to appreciate, as it means investors take it seriously. Lately, Goldman Sachs' analysts Jeffrey Currie and Michael Hinds said that gold was better than crypto currency. They pointed that the riskier the market...
Prepare yourself for the imminent & contentious BTC fork and SegWit 2x drama. Expect a lot of profit-taking. $LTCBTC is a good hedge against Bitcoin price action.
Gold went on to nearly double before the big retrace... just kind of cool to look back and make a comparison and yes I know it's different now, but still kinda cool... Kind of ironic too that now there's going to be a Bitcoin/gold coin...
Since May.2017, I noticed that the prices of bitcoin and gold are acting under a correlation, although not like the correlation between silver and gold.
Chart is self explanatory. Refer to the link given along with for comparison. Properly colour coded.
weekly chart suggest risk/reward only .89
(Note: I'm a beginner at technical analysis. Comments welcome.) This chart is Bitcoin priced in gold via USD. Circled high volume spinning top followed by long red candle. Means there was a lot of trading happening around 0.8281 therefore resistance now stronger. Current green candle looking normal on volume, somewhat long top wick, and balanced "indecisive" --...
Bitcoin price approaching valuation of gold As we go into March 2017, the proximity of bitcoin price to the price of gold is bound to spark international headlines as well as increased market activity. The attached 4hr Bitstamp chart explores the support & resistance zones immediately above and below price, as well as the contention zone that price has now...
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...
If this signal works, we'll have a great rally into resistance, which could lead to a top, and a sideways consolidation for some time in the 6.75-7 range. I think this would align with other markets showing similar mixed signals regarding equities and the dollar, or with bonds and gold chopping around but finding buyers in the daily oversold lows. Bitcoin also...
4H MACD likely going to give full buy signal on open. RSI and stochastic RSI trending upward. 1D MACD has not given the sell signal (crossover), so bull trend is still active. Fibonacci defines targets of 1241, 1254, and 1272. 1D upper BBAND is somewhere near 1230. Put a stop loss around 1200. Great risk reward to 1240.
Gold sinks and BTC skyrocketing makes these two ratio getting closer to the parity. This simple chart shows at the end of January 2017, these two assets hit 1.0. See what happens.