♾ Based on a fractal against gold, Bitcoin is expected to drop sharply in the coming days
⏺ The Bitcoin-to-Gold ratio has climbed into a key resistance zone between 34 and 37, a level historically associated with local market tops. The ratio's weekly relative strength index (RSI) has breached the overbought threshold of 70, signaling potential overextension.
⏺ This pattern has previously aligned with sharp price declines in Bitcoin's USD pair (BTC/USD). The fractal reflects a tendency among traders to treat Bitcoin as a high-risk, speculative asset and gold as a safer hedge during bear markets.
⏺ If the correction occurs, BTC/USD's possibility of reaching $65,000-69,000 aligns with its 50-week EMA and 1.00 Fib line, resulting in a 30-35% correction by March 2025.
⏺ The Bitcoin-to-Gold ratio has climbed into a key resistance zone between 34 and 37, a level historically associated with local market tops. The ratio's weekly relative strength index (RSI) has breached the overbought threshold of 70, signaling potential overextension.
⏺ This pattern has previously aligned with sharp price declines in Bitcoin's USD pair (BTC/USD). The fractal reflects a tendency among traders to treat Bitcoin as a high-risk, speculative asset and gold as a safer hedge during bear markets.
⏺ If the correction occurs, BTC/USD's possibility of reaching $65,000-69,000 aligns with its 50-week EMA and 1.00 Fib line, resulting in a 30-35% correction by March 2025.