BTC following the GOLD patternBTC following the Gold pattern, but it actually makes sense.
1. Test of the mean.
2. The retest to see if it can hold the mean.
3. Price stalls before it gets too bearish, participants weary of a bear market.
4. The test of the mean from below, which holds, followed by the tests of the upper bands to push the market into a bullish sentiment. It's looking successful short term, prices are driven higher.
The first sign of weakness is the breach, with candle close, of the upper middle band on the 12th July 2019 for BTC and around 10th August 1987 for Gold.
5. BTC/Gold fails to hold the upper lowest band (1.25 multiplier), price falls to the mean, trades under the mean, trades above the mean in a narrow range, fails to do anything significant at all, dumps.
