PAX Gold Goes Bullish: What About Bitcoin?

2024年6月30日

We all remember the date November 2021 as the major turning point for Bitcoin. It is the date in which the ~69,000 ATH was hit. What followed was a massive bear-market ending November 2022.

➖ Here we can see an inverse relation between PAX Gold (PAXGBTC) and Bitcoin (BTCUSD).

➖ The same date Bitcoin hit a major high, PAX Gold hit a major low (November 2021).

➖ After the November 2021 bottom, PAXGBTC entered a massive bullish cycle.

This cycle produced a major reversal signal November 2022, when Bitcoin bottomed. In early January 2023, PAXGBTC produced some really strong bearish sessions and a massive declined started. We all know January 2023 as a month when Bitcoin started a major bullish phase with Mars going forward and all that; we had plenty of fun with the trade ideas in those days.

Ok. This whole dynamic leads to present day... PAXGBTC produced a bottom signal around mid-March 2024. Bitcoin (BTCUSD) produced a top signal around mid-March 2024.

👉 PAXGBTC is ready to move forward but, what about Bitcoin?

Thanks a lot for your support.

Namaste.

2024年7月3日

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