🔥 Maximizing Gains: How to Play the BTC/GOLD Ratio
In this analysis I want to shed some light on an interesting relationship between Bitcoin and Gold. It's not a relationship that you can use in your day-to-day trading activities, but it can clearly be used to spot long-term areas of support and resistance.
As seen on the chart, the yellow area (which was established at the 2017 top) has offered support during the 2021 bull-run and resistance during the 2023 move up. In both cases, the prices have rejected from the yellow area, albeit temporarily.
Seeing that GOLD is currently falling hard and BTC is seeing a minor uptrend, the value of BTC/GOLD is currently going up. My anticipation is that we will reject from the yellow area yet again and go for a retest of the November 2022 lows.
History rarely repeats, but it's clear that the BTC/GOLD value likes to retest important areas. See the yellow area and the dotted blue lines. Hence my expectation that BTC/GOLD will retest the November 2022 lows.
Do you think BTC/GOLD has value for traders? Happy to hear your thoughts in the comments.
As seen on the chart, the yellow area (which was established at the 2017 top) has offered support during the 2021 bull-run and resistance during the 2023 move up. In both cases, the prices have rejected from the yellow area, albeit temporarily.
Seeing that GOLD is currently falling hard and BTC is seeing a minor uptrend, the value of BTC/GOLD is currently going up. My anticipation is that we will reject from the yellow area yet again and go for a retest of the November 2022 lows.
History rarely repeats, but it's clear that the BTC/GOLD value likes to retest important areas. See the yellow area and the dotted blue lines. Hence my expectation that BTC/GOLD will retest the November 2022 lows.
Do you think BTC/GOLD has value for traders? Happy to hear your thoughts in the comments.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.