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BTCXAU

BTCUSD / GOLD ratio... a different perspectiveOf late, I came across a lot of coverage on the BTCUSD ratio with Gold, and there are apparently much expectations that BTCUSD is going to explode, as previously. So... I thought I ought to take a look at it myself and see what it can figure out. The chart shows it... initially, it looked very much like the BTC/Gold is about to break out and give BTC a huge rally like before. But somethings didn’t look quite the same, so outcome may differ. First up, the trend lines drawn appear that there is likely to be a breakout. I have little doubts about that. But the first thing sus about this is the MACD... it has a different profile from 2017 and 2019. This brings me to the second point. Here we see the orange line, superimposed Gold price. In 2017, Gold prices were steady while BTC rocketed. In 2019, MACD was supportive even as Gold prices was rising, but BTC rose relatively more. In 2020, however, the imminent breakout appears to be due to a slight increase in BTC, but a major drop in Gold prices... which by the way, brings the denominator down, hence, ratio increases! Good to know, good to watch, good to be ready nonetheless... Bullish on BTCUSD in the very long term, but need to be very patient, and decisively act when necessary. But for now, it’s sus...
COINBASE:BTCUSD
by Auguraltrader
1
BTC/GOLD TECHNIQUE MAY SUPRISE YOU! POSSIBLE 6X PROFITHi everybody. When I analyzed bitcoin as gold parity last night, I noticed that it had a very clean chart. I was quite surprised at why Bitcoin's gold chart is so clear. I think whales trade bitcoin buy and sell by comparing with gold. If Bitcoin continues this technical relationship due to gold, its possible support and resistances are as in the chart. In the event of a possible rally, bitcoin can yield around 4x-6x. What are you thinking? Did Bitcoin's relationship with gold sound very interesting? Loves..
BITSTAMP:BTCUSDLong
by TraderMikabot
Double C wave/ Double Bottom forming $xrpusd $linkusdprevious resistance now attempting to act as support, we could have a double C wave form and a double bottom on bitcoin. The chart shows previous resistances now acting as support, we need to continue to monitor the price action to determine at which level C wave will form. Gut tells me shorts think this will form into a head and shoulder. That is true it could, if it doesnt break $7400 again, it could dip sub 7k one more time and form c wave there, which there still is support from the previous resistances. Imho I see this as a bear trap and jet fuel for a breakout above $7400, which leads to a run of $9200 A target I seen formed by the AD, which gave me an Ascending triangle. I posted this in previous charts. Disclosure: long xrpusd, bitcoin on c-wave w/ confirmation stay tune
COINBASE:BTCUSDLong
by original_moneyflow_trader
3
BTC Targeting 2500 USD + possible correlation with XAU GOLD Long term time frame As you can see from the analysis of possible outcomes in the formations its developing This may change if any of these developments invalidate the chart and confirm a different outcome TA is a continuous analysis of shape inside shape and line upon line From one time rame to the next its all correlation in action Those who understand this, will make it in this world of trading. Those who don’t will not The correlation I speak of is in its infancy between gold and BTC. I see it in certain ‘liquid’ gold stocks Time will tell all. Thanks for listening! Kind regards, Limitlesss Toby Bernhardt of Australia
BYBIT:BTCUSD.PShort
by ASX_Limitlesss
2
Bitcoin vs. Gold - which will perform better?Many 'analysts' say, Gold has just printed a second weekly shooting star candle in a row, you've got to short it! But how does it really look like in the long run compared to Bitcoin? The chart above shows you how many Bitcoins could be bought for one ounce of Gold over time. What do you see? To me it looks like we might be just past the bottom of a channel going up, don't you agree? If this assumption were correct, that would mean selling crypto, buying Gold, but this is just such a crazy idea and I can always be mistaken like any of us. So think about it for yourself and do what is best for you according to your own judgement. Take care & have a great day.
FX:XAUUSD
by ReallyMe
5