Bitcoin-gold
Observing the Frontier: bitcoin price and goldBitcoin price approaching valuation of gold
As we go into March 2017, the proximity of bitcoin price to the price of gold is bound to spark international headlines as well as increased market activity.
The attached 4hr Bitstamp chart explores the support & resistance zones immediately above and below price, as well as the contention zone that price has now entered as Bitcoin challenges the traditional role and status of gold - an historic moment by any measure.
The obvious support zone around $1000 extends down to $900 because of the presence of a long-term Fib line. The Fib fan that this line (and the one near $1600) belong to originates at the January 2015 low.
The sense is that, should the market trade price through $1300 without a disruptive sell-off, then each $100 price increment to $1600 should see a wave of advance.
One technical concern for continuing advance is the gap that has developed between MACD (panel immediately above price) and its lower Bollinger Band. Price occasionally declines under this indication as MACD plummets below zero into the BB gap.
Readers are reminded that this is not a forecast, but a discussion of the probability distribution evident in the chart. To successfully trade the chart at this stage of trend traders should consider indications at multiple timeframes and execute position entries with a known-good trading method and money management strategy, as discussed and taught at trade.cryptocurrents.net
BTC/GOLD Ratio Is The Chart You Want To Watch #Bitcoin $XAUBTC/XAU has come close to parity 3 times, first in 2013, second in Jan 2017, and third in this ongoing rally towards breaking ATH.
Typically, BTC/XAU has had strong rejection between 0.8-1, depending on the value of BTC on the exchange that you consider.
XAU/USD just painted a reversal on the monthly, which could signal the end of a 4 year downtrend. Unless BTC/USD breaks all time high this month, we may see another strong rejection as we climb closer to parity again.
As I shared on twitter, twitter.com it either breaks this week, or will consolidate for a further 3 months before breaking.
I think It's only a matter of time we see BTC > XAU, but when will that happen?
USDCNH: Update - Time at mode uptrend signalIf this signal works, we'll have a great rally into resistance, which could lead to a top, and a sideways consolidation for some time in the 6.75-7 range. I think this would align with other markets showing similar mixed signals regarding equities and the dollar, or with bonds and gold chopping around but finding buyers in the daily oversold lows.
Bitcoin also paints a similar picture, potentially consolidating for a good 1-3 months in this zone where it is now.
Good luck,
Ivan Labrie.
Gold long4H MACD likely going to give full buy signal on open. RSI and stochastic RSI trending upward.
1D MACD has not given the sell signal (crossover), so bull trend is still active. Fibonacci defines targets of 1241, 1254, and 1272.
1D upper BBAND is somewhere near 1230.
Put a stop loss around 1200. Great risk reward to 1240.
Gold Bitcoin ratio hitting 1.0 at 2017?Gold sinks and BTC skyrocketing makes these two ratio getting closer to the parity. This simple chart shows at the end of January 2017, these two assets hit 1.0. See what happens.
SPY ELECTION 15 MIN **** SPY ELECTION 15 MIN CHART******
LOWER LIMIT SUB $208
Upper limit max $212
Solid Yellow line is the new resistance line.
Green solid line will act as new support.
Blue horizontal line is election day.
In election day or pre/post we are expecting swing both upside and down side. But heavy on short side 60% and 40% upside. Swings will take place on both side so a good option strategy will be a good one to capture both sides of the moves.
S&P BROKE SUPPORT******DAILY CHART ONLY******
============================
S&P BROKE SUPPORT. WE CAN GO SHORT NOW FULLY LOADED.
The RED RESISTANCE LINE WAS CREATED FROM 2 TOPS: ONE FROM 2015 MAY HIGH AROUND 2134 AND TOUCHING 2016 AUG HIGH AROUND 2190.
The green line STARTED FROM 2016 FEB LOW AORUND 1810 AND IT TOUCHED THE NEXT LOW OF 2016 JUNE AOURND 1990. BUT Todays OCTOBER 13 LOW AROUND 2114 ACTUALLY BROKE THAT RED/GRENE TRIANGLE.
SO S&P IS NOW IN BEAR MARKET!!!!
EURUSD BROKE SUPPORTEURUSD BROKE GREEN DOTTED SUPPORT LINE FROM 2015 NOV LOW $1.05 . AND CREATED A DOWNTREND RED LINE FROM 2016 MAY HIGH FROM $1.16
Next test fro EURUSD IS SOLID GREEN LINE WHICH WAS CREATED FROM 2015 MARCH LOW @ 1.045
BITCOIN TIME 2 SELLWhen Bitcoin breaks the GREEN DOTTED LINE & GREEN SOLID LINE Then TIME to SHORT. Next support line is the BLUE solid line around $320 zone.
GLD & BTC Correlation?I struggle to fully understand the connection here, if anything I would have thought the direct correlation between these two assets would exist. Flight to safe haven be it a cryptocurrency or an asset like gold, I would have thought the same fear drives these actions.
This chart is contrary to that view / idea, here we have seen a pronounced tracking since early 2015, before this its very supurious, I can only link its rise to the complications arising with monetary policy experimentation in the US coming to and end and bitcoin settling down from its explosion in value.
If anyone has any ideas here of whats going on and how its likely to develop going forward I would be interested to hear!
Ca$h is king. This incredible run hurts any commodities (BTC?)With this very pronounced strengthening of the dollar, none of the commodities are immune to that, from wheat to palladium.
One of the main standard to look for is how gold is reacting, and it is going through some pretty tough times.
The question is, what about Bitcoin?
==> Does the money go back into the box and leave speculative investments like Bitcoin is?
