Which is shinier: Bitcoin or Gold?
Okay plebs, listen up.
This is the chart I've been using to trade between precious metals and bitcoin, ethereum, and other cryptos. It is a custom chart, adding gold and silver with a modern ratio, doing the same with BTC and ETH, and pitting them against each other. What you get? A smooth chart that obeys technical analysis quite nicely.
And here we have a compression triangle. I drew those dotted lines of the triangle before it pinged them the last 2 times upward and downward, so I know it's legit. And what happens with a compression triangle? When it gets to that last bit like it is now, it breaks out in one direction or the other. The direction is yet undecided, but it FAVORS the direction it was going before the triangle started forming. That is, it is more than likely to break out strongly in the upward direction, favoring precious metals.
This has been building for quite some time, and indicates that the smart money has been rotating from the crypto sector to the PM sector REGARDLESS OF HOW YOU PERSONALLY FEEL ABOUT GOLD. I know, it can be a hard pill to swallow, but hey, the charts don't lie and I'd rather give it to you straight.
Makes sense, afterall, we're in crypto winter atm. At the same time, global economies are unstable, which historically favors gold.
While I believe one day digital gold will shine again, that day is probably a few years off at least. For now, real gold is what shines. Peace yall
THIS IS NOT FINANCIAL ADVICE
Want to know how I trade directly between cryptos and allocated physical precious metals? You'll have to ask me.
This is the chart I've been using to trade between precious metals and bitcoin, ethereum, and other cryptos. It is a custom chart, adding gold and silver with a modern ratio, doing the same with BTC and ETH, and pitting them against each other. What you get? A smooth chart that obeys technical analysis quite nicely.
And here we have a compression triangle. I drew those dotted lines of the triangle before it pinged them the last 2 times upward and downward, so I know it's legit. And what happens with a compression triangle? When it gets to that last bit like it is now, it breaks out in one direction or the other. The direction is yet undecided, but it FAVORS the direction it was going before the triangle started forming. That is, it is more than likely to break out strongly in the upward direction, favoring precious metals.
This has been building for quite some time, and indicates that the smart money has been rotating from the crypto sector to the PM sector REGARDLESS OF HOW YOU PERSONALLY FEEL ABOUT GOLD. I know, it can be a hard pill to swallow, but hey, the charts don't lie and I'd rather give it to you straight.
Makes sense, afterall, we're in crypto winter atm. At the same time, global economies are unstable, which historically favors gold.
While I believe one day digital gold will shine again, that day is probably a few years off at least. For now, real gold is what shines. Peace yall
THIS IS NOT FINANCIAL ADVICE
Want to know how I trade directly between cryptos and allocated physical precious metals? You'll have to ask me.
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