Gold / Bitcoin - regular Bullish divergence

2021년 2월 25일

Since March 2020 Gold has taken a beating as measured against Bitcoin with a drop of 90%. That’s about to change.

On the above 2-day chart a regular bullish divergence has emerged between price action and the oscillators following the oversold condition (orange column).

On the 10-day chart the Money Flow Index has broken out from resistance. Price action returned to the 21-week moving average (green) in previous breakouts, currently 150% away.

I know the bitcoin bulls are not going to like this, however the last two occasions those oversold conditions occurred in the Gold / Bitcoin pair, Bitcoin dropped 80% & 60%, respectively. A repeat of 60% would take Bitcoin to $20k in dollar terms.

Target? No clue - will update idea when overbought.

Action to take? Not financial advice - however I use those opportunities to swap a good chunk of the Bitcoin stash into gold if you want more Bitcoin. You could 2x your Bitcoin holdings here. PAX Gold on Binance makes it super simple.

Good luck.

10-day chart - MFI resistance breakout

2021년 3월 22일

액티브 트레이드

2021년 4월 18일

액티브 트레이드

Is gold going to outperform Bitcoin for the remainder of this year? The chart is suggesting as much.

2021년 5월 16일

노트

A tiny 10% gain so far, nonetheless, Gold appears to be outperforming its digital cousin.

2021년 5월 19일

노트

Now up around 36% against BTC.

An overbought condition does not yet exist. However, I would start planing profit taking. Yes Gold could continue and Bitcoin its correction, however the risk / reward is not nearly as attractive as it was some weeks ago.

2021년 5월 19일

매매 수동청산

70% gain against BTC now with overbought condition (green column). Never thought for a moment that would happen when publishing this idea.

2021년 6월 7일

노트

Thought worth adding. A 'hanging man' candle was printed 2-weeks ago with the close of last week confirming the reversal. What does this mean? Be long Bitcoin, not gold.

2021년 6월 14일

노트

Don't be in this trade if you still are. Weekly Stochastic RSI has crossed down indicating there is a high degree of probability BTC will outperform Gold in the weeks ahead.

2021년 7월 19일

액티브 트레이드

62% return thus far and now breaking out once more, target as shown.

2021년 7월 21일

매매 수동청산

60% more Bitcoin and now a bearish divergence - time to get out.

This bearish divergence will be as powerful for Bitcoin price action as was the bullish divergence when the correction from $60k began.