An intriguing observation, to say the least. While gold is currently leading in terms of price action and movement compared to BTC, it's fascinating to note that gold is actually lagging behind when we consider the technical aspects. BTC has reached its 'max pain' oversold point on smaller timeframes, leading to a parabolic move up and briefly touching its psychological resistance at 30k before a retracement for consolidation.
In contrast, gold has broken out of its mid-term consolidation pattern and hasn't exhibited any form of parabolic movement since its consolidation breakout. This also coincided with it reaching its 'max pain' psychological level. The correlation between these two assets is indeed a complex and dynamic interplay worth further exploration.
Delving into the concept behind this theory, it all begins with an exploration of smaller timeframe patterns. Both gold and BTC have recently broken out of their respective symmetrical triangles, setting the stage for the development of this intriguing theory. As they embark on their journeys post-breakout, they're currently exhibiting signs of deviation from a smaller triangle setup positioned above the breakout area.
The essence of this theory lies in the belief that, if the deviation continues as anticipated, it could pave the way for the formation of a bullish wedge pattern. This wedge pattern, if all goes as planned, might position us favorably for tomorrow's trading session. Stay tuned for the unfolding dynamics of this exciting theory
In contrast, gold has broken out of its mid-term consolidation pattern and hasn't exhibited any form of parabolic movement since its consolidation breakout. This also coincided with it reaching its 'max pain' psychological level. The correlation between these two assets is indeed a complex and dynamic interplay worth further exploration.
Delving into the concept behind this theory, it all begins with an exploration of smaller timeframe patterns. Both gold and BTC have recently broken out of their respective symmetrical triangles, setting the stage for the development of this intriguing theory. As they embark on their journeys post-breakout, they're currently exhibiting signs of deviation from a smaller triangle setup positioned above the breakout area.
The essence of this theory lies in the belief that, if the deviation continues as anticipated, it could pave the way for the formation of a bullish wedge pattern. This wedge pattern, if all goes as planned, might position us favorably for tomorrow's trading session. Stay tuned for the unfolding dynamics of this exciting theory
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BTC idea - 30MIN Chart
BTC idea - 30MIN Chart
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Concluding our exploration of the 12 daily chart fractal and our forecasted market peak. Keep an eye out for our upcoming insights on market cycle bottoms
BEFORE
Concluding our exploration of the 12 daily chart fractal and our forecasted market peak. Keep an eye out for our upcoming insights on market cycle bottoms
BEFORE
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AND NOW WE'VE HAD OUR 5 AND UP FRACTAL
AND NOW WE'VE HAD OUR 5 AND UP FRACTAL
BTC idea Daily Chart