It is a daily technical analysis by Coindesk analyst and chartered market technician Omkar Godbole.
Bitcoin
And gold (XAU) According to the Data Source Tradeview, recorded its best performance in two months, the dollars per-more than 10% over-more than 10%.
The advantage of dual -digit, which represents the outperform of BTC relative to gold, marked the breakout from the bull flag pattern. The so -called flag breakout continued the continuity of the rally with loads near 24.85, reaching on 11 April.
A bull flag pattern is characterized by a sharp uptrend, followed by a relatively brief counter-trend consolidation that usually refreshes higher, as with a BTC-gold ratio.
The flag breakout is said to expand the reverse by an amount equal to the magnitude of the initial rally. Therefore, at the record high of 40.73 hits in December, the ratio may increase to 42.00.
The ratio is characterized by a sharp upheaval in the price of the BTC dollar-sect, as it is seen at the end of 2024 and in April and May, instead of gold instead of gold more than BTC.
