To compare Bitcoin - Gold - DXY - S&P500 - interesting FACTS
I often do this and am showing this for the 2nd time here in TradingView as I feel this daily chart shows some interesting data
Top Left Bitcoin
What is VERY clear here is that BTC has nothing but GAIN since January, over 50% in fact and even while retraceing a little, it has kept above any lines of support with out even testing them . This is not to say that a further pull back could happen, but currently, It has some very determined people and insitution now onboard. Bitcoin isn't gong anywhere except UP over al
Top Right GOLD
Has been climbing since Nov 2022 but has begun a retrcement for the last 4 weeks, unsettling some. Various traders are calling the change of trend now and it could be, MACD is turning Bullish from oversold..But what will DXY do, thats the question
Bottom Left DXY $
DXY began a retrace after its 27% rise that ended beginning Feb 2023, Historically, DXY tends to bounce of the 0.5 retrace fib line for a little while and then turn over again and thats what I think may happen again soon. HOWEVER, things are possibly different right now. There is little doubt that FED Will once again increase Rate at End of March But a 25 point will do little to support DXY and it would turn over as investors push their oney elsewhere, But if its a 50 point, that would shake markets, and some people are beginning to say it Will be 50 - THIS is th eone to watch towards Month end
Bottom Right S&P500
The S&P is rising in Waves and is currently retraceing as is GOLD as th emoney comes out and reenters the DXY - it has had a stronger pattern than GOLD and that is as people have felt more confident
BUT what I find interesting is how Both GOLD and S&P are currently loosing money and if you look at these charts, Both DXY AND BITCOIN have been taking it.
There is No doubt now that Bitcoin is seen as a real financial tool and its adoption world wide is scaring the TradFi industry but there is nothing they can do about it
The real difference with the investments in Bitcoin and DXY is that the Bitcoin investment is LONGER TERM and HIGHER RETURN
It is as simple as that
Top Left Bitcoin
What is VERY clear here is that BTC has nothing but GAIN since January, over 50% in fact and even while retraceing a little, it has kept above any lines of support with out even testing them . This is not to say that a further pull back could happen, but currently, It has some very determined people and insitution now onboard. Bitcoin isn't gong anywhere except UP over al
Top Right GOLD
Has been climbing since Nov 2022 but has begun a retrcement for the last 4 weeks, unsettling some. Various traders are calling the change of trend now and it could be, MACD is turning Bullish from oversold..But what will DXY do, thats the question
Bottom Left DXY $
DXY began a retrace after its 27% rise that ended beginning Feb 2023, Historically, DXY tends to bounce of the 0.5 retrace fib line for a little while and then turn over again and thats what I think may happen again soon. HOWEVER, things are possibly different right now. There is little doubt that FED Will once again increase Rate at End of March But a 25 point will do little to support DXY and it would turn over as investors push their oney elsewhere, But if its a 50 point, that would shake markets, and some people are beginning to say it Will be 50 - THIS is th eone to watch towards Month end
Bottom Right S&P500
The S&P is rising in Waves and is currently retraceing as is GOLD as th emoney comes out and reenters the DXY - it has had a stronger pattern than GOLD and that is as people have felt more confident
BUT what I find interesting is how Both GOLD and S&P are currently loosing money and if you look at these charts, Both DXY AND BITCOIN have been taking it.
There is No doubt now that Bitcoin is seen as a real financial tool and its adoption world wide is scaring the TradFi industry but there is nothing they can do about it
The real difference with the investments in Bitcoin and DXY is that the Bitcoin investment is LONGER TERM and HIGHER RETURN
It is as simple as that
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