🔥 Bitcoin/Gold Providing Insight

In a period of lower volatility I'd like to explore different views on the market, especially longer term ones which can shed more insights on the current state of the market.

Today, I'd like to take a look at the BTC/GOLD chart. Both GOLD and BTC are often mentioned as good "store of value" assets, so the relationship between them can provide a different view on the market.

According to this chart, BTC/GOLD has already hit the area around the 2018 bull-run top. The top is currently providing strong support in the yellow marked area.

Ideally, this yellow area of support will hold in the coming weeks, potentially causing a strong bounce upwards so that the bull-run may continue.

For the near future, the view on the market is not very bullish (yet). If anything, it's looking like we're going down in the near future. As mentioned in my other BTC analyses, I'm still confident that this bull-run will continue and that we're currently in a dip. It might just take a couple of months before we can go again.

Happy trading!