Gold to Bitcoin Ratio



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Periodically we have checked in on the Gold to Bitcoin ratio via the XAUUSD/BTCUSD or GLD/BTCUSD charts. Once support finally broke (see chart below) we knew that the Bitcoin/USD rally was about to take off. A few weeks ago in the trading room I shared my FIB extension targets and it recently hit the full extension at 0.16 (see chart above). Unless BTC has some consolidation for a fierce rally it seems more likely that a top is near with BTC. Though it may spike through 0.16 to trend though it will require another extension of the FIB tool.


gldbtc apr 22
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June 17 2016

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