Bitcoin Gold Direct Trading Pair - VERY IMPORTANT TO WATCH THIS
Bitcoin Gold trading pair
PA heading towards 2.272 Fib extension line.
This has been Support since Nov 2024 and is now a firm line of Support at 34.52 Ounces of Gold per Bitcoin
Also about to hit 100 Daily SMA )( SMA ). This may also provide support just above the Fib line
Since December, we have been seeing a Rise in Gold prices as demand escalates due to various Macro reasons around the world.
Bitcoin has held a steady range while trading against Gold.
Now, I am Watching this close.
If BTC looses this line of Support and begins Loosing out to Gold because Gold continues to Rise, signals a Shift of Sentiment for BTC
The traditional Store of Value Wins against the New Kid on the block as a safe haven
Macro uncertainty driving money flow.
We now have Trump imposing Higher Tariffs Oon international trade and THIS alone is driving Massive uncertainty and so Stocks are falling and that money needs to go somewhere.
It has been GOLD since January this year, Rising to a New ATH
At the same Time, Bitcoin has effectively ranged just below the current ATH
GOLD has the momentum right now and is taking the prize
And THIS is why this chart is so important.
BITCOIN MUST NOT LOOSE THIS SUPPORT
DXT $ is also rising, maybe with the static interest rate and possibility of a Rise later in the year if inflation continues to rise.
Extreme Caution right now
PA heading towards 2.272 Fib extension line.
This has been Support since Nov 2024 and is now a firm line of Support at 34.52 Ounces of Gold per Bitcoin
Also about to hit 100 Daily SMA )( SMA ). This may also provide support just above the Fib line
Since December, we have been seeing a Rise in Gold prices as demand escalates due to various Macro reasons around the world.
Bitcoin has held a steady range while trading against Gold.
Now, I am Watching this close.
If BTC looses this line of Support and begins Loosing out to Gold because Gold continues to Rise, signals a Shift of Sentiment for BTC
The traditional Store of Value Wins against the New Kid on the block as a safe haven
Macro uncertainty driving money flow.
We now have Trump imposing Higher Tariffs Oon international trade and THIS alone is driving Massive uncertainty and so Stocks are falling and that money needs to go somewhere.
It has been GOLD since January this year, Rising to a New ATH
At the same Time, Bitcoin has effectively ranged just below the current ATH
GOLD has the momentum right now and is taking the prize
And THIS is why this chart is so important.
BITCOIN MUST NOT LOOSE THIS SUPPORT
DXT $ is also rising, maybe with the static interest rate and possibility of a Rise later in the year if inflation continues to rise.
Extreme Caution right now
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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.
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.