gold vs bitcoin

GOLD vs BITCOIN. Who Will Win?

I found XAUBTC chart interesting. Here is why.

XAUBTC has been bearish for a while. HOWEVER…

We can clearly see that the impulse movements are getting smaller and flatter. (as shown by the angles highlighted in blue)

So from a market structure perspective, this is an early alert that the buyers are losing strength, and we might have a potential reversal soon. BUT WHEN?

For the buyers to take over, and the momentum to be shifted, XAUBTC has to break above the last swing high. (around 0.04 – 0. 05 )

If this happens and XAUBTC goes up => it means:

Scenario 1 – GOLD UP, and BITCOIN DOWN

Scenario 2 – GOLD UP, and BITCOIN UP with Gold moving up more aggressively

Scenario 3 – GOLD DOWN, and BITCOIN DOWN with Bitcoin moving down more aggressively

Credit: heSignalyst

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