Bitcoin’s performance against gold has hit resistance levels that historically align with the start of 2018-2019 and 2021-2022 bear markets.
Bitcoin (BTC) looks poised to undergo sharp price correction in the coming days, based on a fractal that measures its performance against gold. For context, the top cryptocurrency has rallied by over 132% in 2024, including a 47% rally after Donald Trump’s election win in November.
BTC/USD year-to-date price chart. Source: TradingView
As highlighted by veteran analyst Peter Brandt, the higher probability of a sharp Bitcoin price correction comes from its performance against gold futures.
