Two Brothers - #BITCOIN & #GOLD

When we compare #BITCOIN and #GOLD charts, we always talk about their similarity - when the one grow, the second do the same and vice versa. Such a relation was formed by the fundamental value and identity of these assets.

For example, as you probably have already heard, there were some terrible news about Iran general killed by US strike. A lot of people tied them with the recent BTC pump and I think they were right. However, the main asset reflecting to war news is gold. Correlation between gold and bitcoin has risen in 2019 and now it's easy to notice that with this BTC pump (only after gold). We can conclude that the opening of gold market is really important to bitcoin. BTC will likely copy gold market moves in the coming days.


Now we can see that $BTC lags behind $XAU, so logically, in the near future we would see the same sharp growth on the $BTC chart as well. To make it clear, let me explain what did you I mention on the chart. The red zone is the first correction of the growth, then the growth continued and we saw the second correction - green zone. And then, after the pump, we saw a bullish wedge, which plays as a correction of the growth, in both cases.

Now $BTC chart is forming a positive and upward picture, such as $XAU after bottoming after falling wedge formation. Therefore, currently we are watching a key step from #BITCOIN to form a new upward movement, after the recent dump.