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Bitcoin gold ratio confirms MACD golden cross
โWhat is that golden cross I'm referring to? So when a smaller term moving average moves above a longer term moving average. And in this case, we're looking at the MACD. So this orange line is the longer term moving average. The blue line is the shorter term moving average. And you can see right now, we have a bullish crossover on the MACD, and that bullish crossover is now you know, this is a two day bold div.โ
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Historical bottoming patterns face a potential breakdown
โThe Bitcoin gold ratio bottomed after three hundred ninety five days in 2016 right here, Then after three hundred ninety six days in 2019, and then three hundred ninety five days in 2022. So three ninety five ninety six ninety five. Right now, we're at day four hundred and twenty seven. So either this pattern breaks for the first time in a decade or gold holders are about to become Bitcoin exit liquidity.โ
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Bitcoin remains a tiny fraction of global assets
โNow there's a lot in global assets. We're talking about a quadrillion. And of that quadrillion dollars, Bitcoin is only 0.2% of that. We're not early. We're absurdly early. And when you look, you can see how big of a portion gold is, and you can see how small of a portion Bitcoin is right there. And so just a small, small shift will have a dramatic change in Bitcoin's price.โ
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Gold price action exhibits a potential bear flag
โI did mention a bear flag on gold. So what's the bear flag we're looking at? There is a potential bear flag. I wanna say huge odds this this plays out. You can see it right here, and then we have our our flag as well as our flagpole. And if, say, the breakdown does occur right here again, we're in this little liquidity pocket, about to be in a little tight range.โ
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Bitcoin faces double resistance at its range midpoint
โNumber one, this long sloping white line. This is gonna act as resistance. The October top and then the January peak, it's October 6. It's gonna be the January. We're hitting this level right here. The second layer of resistance is gonna be the midway point. We've been stuck in this range for over two months, sixty seven days.โ
