In this chart you see #paxgold / #bitcoin . This charts indicates the power of #xaugold against #btc . Gold has formed an descending pennant and this pattern is commonly ends up with bullish move. And also , gold is now sitting on a major vertical support zone. I expect #xauusd to outperform #bitcoinusd for weeks if this bullish pattern breaks out.
If this breakout works: Gold is a slowly moving instrument, if gold slightly outperforms btc, this may be also so bearish for bitcoin.
NOT FINANCIAL ADVICE. dyor.
If this breakout works: Gold is a slowly moving instrument, if gold slightly outperforms btc, this may be also so bearish for bitcoin.
NOT FINANCIAL ADVICE. dyor.
