Will the rising Gold price send BTC into a deeper ditch ?

Just a quick idea to share.
It's all on the chart. Draw your own conclusions.
Take care.

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It is very interesting to take a closer look at the fib price levels on this chart. Unbelievable how long and stable the 0.786 level (0.19 BTC per ounce of Gold) was held.

We are now at 0.5 level (0.35 BTC per oz of Gold) and if you ask me, it looks very much like the price is set to visit 0.382 (0.41 BTC per oz of Gold, around mid-March) and then 0.236 (0.5 BTC per oz of Gold, around the end of May).

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Updated idea: Bitcoin vs. Gold - which will perform better?

(click on the chart to see the idea)

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Gold price has been transforming in a way that is highly interesting.
What is the next target? $1,640 then on to $2,000?