The relationship between bitcoin and gold has been interesting . Using the XUA/BTC ratio we can see that bitcoin has not outperformed gold since the top of BTC at december 17th. The ratio has traced a 1 year bullish triangle pattern that i believe will be broken to the upside as gold regains its rightful place as a store of value and BTC loses its place as the leader of cryptos to other more useful cryptos. Dont get me wrong, i love cryptos but BTC is going to lose its position as the top crypto this year.
As BTC selloff accelerates we have now broken out of both overhead horizontal resistance and long term trendline on the same day.
etfsandstuff
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Now at the breakout point for the 4th time! Once it breaks this line a large amount of funds will abandon cryptos. The big move in metals is just around the corner.