Bitcoin has often been described as the digital Gold. And with good reason as it posseses the scarcity attribute of Gold like no other asset.
More often than not, we've seen Bitcoin replicate Gold's trading pattern and why not, as market psychology under certain set of conditions tend to be similar.
What better patterns to repeat than the long term ones. And on these charts you seen those.
Bitcoin's current Cycle is a Cup and Handle pattern, similar to Gold's formation after its former September 2011 ATH following the amazing rally after the launch of its ETF in the early 2000s.
Once Gold crossed above its MA50, it never broke back below it, in fact is provided support for its Handle twice.
Bitcoin is on a similar situation right now having held its MA50 last week, the 2nd time it supports it since the Handle did in August 2024.
Based on this Gold fractal, this is the best time to buy BTC again for its final rally of the year.
Follow us, like the idea and leave a comment below!!
More often than not, we've seen Bitcoin replicate Gold's trading pattern and why not, as market psychology under certain set of conditions tend to be similar.
What better patterns to repeat than the long term ones. And on these charts you seen those.
Bitcoin's current Cycle is a Cup and Handle pattern, similar to Gold's formation after its former September 2011 ATH following the amazing rally after the launch of its ETF in the early 2000s.
Once Gold crossed above its MA50, it never broke back below it, in fact is provided support for its Handle twice.
Bitcoin is on a similar situation right now having held its MA50 last week, the 2nd time it supports it since the Handle did in August 2024.
Based on this Gold fractal, this is the best time to buy BTC again for its final rally of the year.
Follow us, like the idea and leave a comment below!!
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.