XAU/BTC - Inverted scaleDear Everyone,
Look at the chart of XAU/BTC with invertetd scale. It seems to be that the BitCoin move was implicated by the weakness of faith to FIAT currencies. Because on XAU/BTC was nothing special. That prooves one more time that the U.S. Dollar and other state currencies are getting not to be a true money - sorry.
Currently we are at the resistance line for XAU at 0.2 (support for BTC c.a. 5 oz). We must observe today's candle as for bitcoiners would be better this resistance for Gold would stay. I believe it's possible.
Best regards,
Paweł,
P.S.
I my opinion, expected head-and-shoulders pattern happened at Bitcoin/Gold pair and will not happen an U.S. Dollar pair because of the money printing. In my opinion Gold is true money now.
XAUBTCK trade ideas
XAUBTC / Will the ratio move into the 200 wma top trend line?I've never used a ma trend line cross before. I don't know if it even has a name??
But somehow this one seems relevant.
Last time (nov 16) this cross happened while ratio was already favoring bitcoin and pushed the ratio way down.
This time the cross happens while ratio is favoring gold in short term.
And with gold near ath...
Bitcoins Invisible golden fractalThis chart shows a macro fractal in bitcoins price that cannot be seen when pricing bitcoin against US dollars. It can only be seen using the inverted Gold/Bitcoin chart.
As fiat inflates, loses value, and ultimately collapses it is clear the Gold/Bitcoin pair will become the single most important currency pair.
If this fractal holds any weight then we might only be in the equivalent of May 2015 with this bull market not topping out until some time in 2023.
XAU/BTC - inverted scaleHello Everyone,
Mike Novogratz suggested to look at Bitcoin to Dollar chart. As on TradingView is only XAU/BTC, I inverted scales (red candles ago up). Mike Novogratz suggested that breaking the line can turboboost the Bitcoin price in relation to other assets.
Indeed, if wee will se at the chart, we see there is no significant breakout still (in relation to gold, of course). Let's remember that U.S. Dollar is not a true money anymore as is massive produced without any limitations. As other states' currencies! Currently all countries print money like crazy.
In my opinion Novogratz's had very good suggestion to look at this chart! So, let's see if Bitcoin will do a breakot!
All the best, as always, all the best regards,
Paweł
Fine long opportunityWell, XAUBTC looks like want to test at least 1 area. I wonder at what price these two will get even.
If this long position gets successful, XAUBTC might be on its way to build a nice wedge, which would possibly be the first wave of a new bull run. We'll see...
WARNING! I am not a financial and trade advisor. I am just learning technical analysis. You should NOT use my ideas as a financial or trade advice.
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You DO NOT have my permission to use my ideas as a financial or trading advice.