Btc vs xau could drop with the orange line to consolidate on the giant triangle around 0.168 fib before breaking out.
Note
This was only simple, due to being on my mobile at the time. Essentially look at the fib retracement from 0 to 1, and see the 0.618 level forming a consolidation level over a longer timeframe. This continuation of consolidation would pose a risk of further lows before supply totally drys up and the only way left is skyward. IMHO bitcoin beats gold, it has a more restrictive supply and zero mass.
Note
Upward breakout from consolidation achieved.Note
If you're into bitcoin and not watching gold/bitcoin you're missing the main show!Note
bounce up is due
Note
this is on track, after a small delay (years)
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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.