- May 4, 2023
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
This is an interesting analysis on the 1W time-frame of Bitcoin (BTCUSD) against the GOLD/SPX ratio(blue trend-line). The conclusion that this comparison offers can be very valuable.
As you see, when the GOLD/SPX ratio peaks and starts pulling back, Bitcoin starts the Parabolic Rally of its Bull Cycle. At the moment the GOLD/SPX ratio is on a Channel Up similar to 2018 – 2019. When the ratio broke that Channel to the upside, it peaked as in February 2016 and started to decline. At the same time Bitcoin kick started its Parabolic Rally.
Will you be on the look-out for such a spike or when it happens it will already be too late? Feel free to let us know in the comments section below!