We can see on this time frame
Gold is starting to "get weaker" in front of BTC ,after it hit a local top earlier today
If gold "loses strength" we may recover soon - people need to hedge maybe even buy the dip now
PS : we know gold is moving like a turtle comparing to crypto - this chart is for reference to the crypto situation -panic we are seeing now
With inflation running hot into the foreseeable future Bitcoin and Gold have my full attention.
Expecting Gold to hit new lows against Bitcoin over the next few days.
Short term 2 bar trail.
Longer term hodl... continuing to cost average into short position until 4th quarter.
In my opinion cryptomarket,will bleed huge. My fundamental analysis: NYAG needs documents from $USDT within 90 days, USDT market cap still rises as they print money, but in my thought at some point they need to redeem and burn their tokens in order to get their documentation in place. Every crypto (altcoin,bitcoin) graph draws head and shoulders on the chart, I...
I know, I'm trying hard with #PaxGold but I've got that feeling it will be worth it.
XAU (true #Gold) is very bullish, not as much as BTC but still, take that as a hedge position if crypto market dips!
Current Price= 0.12701
Buy Entry= 0.12535 - 0.12161
Take Profit= 0.13208 | 0.13858 | 0.14987
Stop Loss= 0.11488
Risk/Reward= 1:1.2 | 1:1.76 | 1:3.07
#PaxGold is a digital asset where one token is backed by one fine troy ounce of gold bar.
Right now price is holding on parallel channel support, I believe it's a great opportunity to hedge some Bitcoin after such bull run!
Current Price= 0.14543
Buy Entry= 0.14300 - 0.14628
Take Profit= 0.15235 | 0.16302 | 0.16798
Stop Loss= 0.13693
Risk/Reward= 1:1 | 1:2.38 |...
Here an interesting comparison between the two main gold-replicating coins
with gold itself.
While pax replicates pretty loyally, pax's value tends more to oscillate around the gold value.
Currently the difference is 0.03 btc (13%). Let's see how it plays out to consider this trade in the future.