Gold giving directions to the future of BTC...
I'm not comfortable with the movement of USD these days, although it still remains a reserve currency.
However, if I had to consider the VIX and relative strength of USD, I had to bring an independent entity-Gold.
Using this chart, one can observe the price of BTC in gold terms. One point to keep in mind is: GOLD IS CONSIDERED THE STANDARD HERE.
In the near term of a couple of weeks to a few months, we can either expect Bitcoin to fall precipitously to a price of 0.5 Gold Ounce, at least for a fraction of a second. Even if its a freak trade, that will be true. Don't consider this to mean BTC may be going down to USD 800 then... It only means that whatever the price of Gold at that point in USD, it would be half of that.
I shall keep a track of this chart for my personal use for reversal points and investment.
Stay safe!
However, if I had to consider the VIX and relative strength of USD, I had to bring an independent entity-Gold.
Using this chart, one can observe the price of BTC in gold terms. One point to keep in mind is: GOLD IS CONSIDERED THE STANDARD HERE.
In the near term of a couple of weeks to a few months, we can either expect Bitcoin to fall precipitously to a price of 0.5 Gold Ounce, at least for a fraction of a second. Even if its a freak trade, that will be true. Don't consider this to mean BTC may be going down to USD 800 then... It only means that whatever the price of Gold at that point in USD, it would be half of that.
I shall keep a track of this chart for my personal use for reversal points and investment.
Stay safe!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.