XAU/BTC - Gold and Bitcoin outlook for next 6 months ?GOLD & BITCOIN OUTLOOK
for the ppl saying that TVC:GOLD is outperforming CRYPTOCAP:BTC
Well... not really as you can see at a relatively big timeframe on this XAU/BTC chart
what is happening now ? well XAU had a rebound mid March, making a +66% pullback, it seems a lot but as you can see during august 2020 it felt 85% !
1. made it to the previous resistance quite hardly, first sign about the bearish approach that could arrive
2. we are now around , in fact around a very hot zone, 0.4 , if we go above, more chance to see bullish moves in this chart, meaning that Gold could go more up and/or Btc could go more down, its a weekly timeframe so, im talking about a 6 months move
BUT, I think XAU/BTC will not be able to pass that resistance and will in fact go big red candles till spring
3. if you look at what happened 4 years ago just copy paste it now, you should have a view of the next 5-6 months for both assets
Not saying that gold is gonna plummet and XAU/BTC will go -85% this time but it should bring it a bit down, as in august 2020 it was also going parabolic and went -20% in 6 months
so yes im expecting gold to go -20% during the 6 next months and of course BTC to go UPPPPPP
so if they're one thing to retain here, its that Gold seems now inversely linked to the 4 years BTC cycle ! And this is quite interesting because it means that BTC has a lot more power and influence than people think
Cheers & thx for reading
