BitcoinLong
BTC to Gold ratio is a consistent indicator
I did this chart in November 2021 and expected a black swan event but the market ended doing a slow painful decent in a downward channel . However, the ratio touched support at 9.64 as predicted and I expected the market to flip bullish afterward. But Sam Banksman Fried's shorting the market with FTX customer deposits to save his Ponzi dropped the market below support.
As a rule of thumb in crypto, all inorganic moves revert to their starting point. Such examples are the 2019's XI pump which reverted in a months’ time and the Trump pump which resulted in the covid black swan event.
So the FTX dump and manipulation spectacularly reverted with a Bart up and all bears waiting for 12k were decimated. The Bart up formed a fake out below key level with retest which is a very bullish pattern .
Currently the ratio broke out of its more than a yearlong descending channel with a retest followed by a strong bounce, breaking over the order block and range resistance at 13.87. The retest was confluent with the retest of the fake out below key level doubling the probability of an upward trend.
The descending channel measured move is at 20.53 which confluent with the descending channel midline and triple the 10 to 14 range. All these confluences indicate a high probability target.
I was in the past been able to predict the major bull run of 2020 with the BTC to gold ratio.
and that the 9.6k gap was internally closed by the CME and that price will no longer fall to close the gap.
The 20.53 ratio target will correspond to 51K if gold reaches 2500. The measured move the BTC falling wedge is at 48k which means that gold can reach 2.33k .
BTC to gold ratio is a good indicator because it highlights patterns that are not clear on the normal BTC price chart. Coupled with other analysis the BTC to gold ratio should give high probability predictions.
As a rule of thumb in crypto, all inorganic moves revert to their starting point. Such examples are the 2019's XI pump which reverted in a months’ time and the Trump pump which resulted in the covid black swan event.
So the FTX dump and manipulation spectacularly reverted with a Bart up and all bears waiting for 12k were decimated. The Bart up formed a fake out below key level with retest which is a very bullish pattern .
Currently the ratio broke out of its more than a yearlong descending channel with a retest followed by a strong bounce, breaking over the order block and range resistance at 13.87. The retest was confluent with the retest of the fake out below key level doubling the probability of an upward trend.
The descending channel measured move is at 20.53 which confluent with the descending channel midline and triple the 10 to 14 range. All these confluences indicate a high probability target.
I was in the past been able to predict the major bull run of 2020 with the BTC to gold ratio.
and that the 9.6k gap was internally closed by the CME and that price will no longer fall to close the gap.
The 20.53 ratio target will correspond to 51K if gold reaches 2500. The measured move the BTC falling wedge is at 48k which means that gold can reach 2.33k .
BTC to gold ratio is a good indicator because it highlights patterns that are not clear on the normal BTC price chart. Coupled with other analysis the BTC to gold ratio should give high probability predictions.
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