BTC/GOLD Ratio Is The Chart You Want To Watch #Bitcoin $XAU
BTC/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/onemanat.../834171533194989568, 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?
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/onemanat.../834171533194989568, 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?
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Here's the chart of Gold painting that reversal candle:
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