FXOPEN:XAUBTC made a perfect bounce off the support are where we have taken the LONG position riding it all the way to the top level. Target point is calculated on fibonacci levels.
Please be aware that we only share our own trading setups, please always do your own analysis before entering any trade of your own.
Is btc about to make h&s pattern and enter March with a 50% fall?
Or the structure will get invalidated bringing us the new cycle early!
Come back here and click load to find out! :)
...you can correlate this chart with your btc chart and try to see the inverted pattern...
While crypto is rising, gold must retraced to a lower level so we are short on XAUBTC also a bearish cross on the 4 hour chart as confirmation.
This is not financial advice, please always do your own research before entering any trade.
** Bearish divergence and rising wedge pattern should see BTC outperform GOLD**
Thought the tweet wars will wage on between the two rigid dinosaurs. And though I sympathise with both sides. Lets look at the weakening chart here objectively.
I've been looking for the BTC41k bottom for a while, and despite some scares we found it...
Now after a good run, BTC is...
The scale of the chart is reversed.
Given the price behavior and past years, gold will be more superior to bitcoin . This chart is only for comparing the ratio of these two assets.
This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
Just had a look at XAUBTC, and could only fit 5 years in a chart, and Gold lost nearly 99% against the BTC astronomical rise, if you go 10 years, the lag is nearly 100%.
Now my guess for the real inflation is about 15% per year for the past years, from now more than 20%p.a. Gold did gain nearly 60% in the last 5 years, so you could say it does keep purchasing...
BTC wil decrease with 8000 % (5.90 dollar per bitcoin) and gold will increase with 200% (3600 dollar per ounce) coming years probably.
Watch reality catch up with emotions as the bubble will pop and we will need to return too some decency.
I believe this will get ugly and Fiat will get dragged down with it, along with surplus leverage and overvalued stocks such...
