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Goldbitcoinratio

GOLD to BITCOIN ratio. Has it bottomed or one last drop?Last time I looked into this very informative ratio was in late October 2020, right before Bitcoin started its new Parabolic Rise: The Triangle broke to the downside and that heavily favored BTC against Gold in a diverging trade trade that few saw. Since April though, we saw BTC giving away power to Gold with the ratio starting to rise again as BTC hit the April highs while Gold started to recover from the March bottom into a new rally. This is when I posted my article on how investors where shifting away from BTC and back into Gold. At the moment though the pattern shows a strong dilemma. Will it continue upwards and break the 1W MA50 starting a new consolidation Cycle in the form of a Triangle, or will it resume the bearish trend of late 2020/ 2021? The latter has some strong indicators in support, namely the LMACD which is rolling over and may make a Bearish Cross. This indicates that we are in a October 2013 like temporaray top and one last drop is ahead of us. Also the usual cyclical convergence (squeeze) of the 1W MA50 and 1W MA200 (orange trend-line) took place earlier this time than in previous Cycles. Also the Parabolic Channel on the XAUUSD/ BTCUSD pair that I initially made in 2019, still shows that one last low is possible at the bottom of the pattern: Are you expecting BTC to gain again against Gold or the opposite? ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> RyodaBrainless --------------------------------------------------------------------------------------------------------
OANDA:XAUUSD
by TradingShot
5
What you might really look at is ...... the Gold/Bitcoin ratio. Far oversold on all scales. This means that compared to Bitcoin, Gold either becomes completely useless or is just very cheap. What do you think it is? It is worthwhile to follow the development for example on 1h. Right now it seems to be reversing. Stay tuned, it is going to be exciting. To explain it simply, if the blue curve keeps going up, it obviously makes no sense to hold on to Bitcoin, you are much better off exchanging it for Gold and holding on to it.
TVC:XAUBTC
by ReallyMe
2