Ah, Bitcoin! The golden goose has once again squawked its way down to the humble 25-ounce level against gold, a “support” so horizontal it could make a carpenter weep. Is this the bottom? Or merely a puddle in the ocean of despair? Only the tea leaves-and perhaps a bribed analyst-can say.
Gold Hits Support, But the Descent May Be a Marathon, Not a Sprint 🏃♂️📉
While Bitcoin bleeds like a punctured balloon after its brief flirtation with infinity, gold-ah, gold!-has seemingly paused its nosedive at the $4,000 mark. A triumph? Perhaps. But the Stochastic RSI, those sullen market prophets, hint the party’s not over. Two weeks of data suggest gold may yet tumble to $3,600, where even Scrooge McDuck might wince.
The ascending trendline? A fragile lifeline, this one. Should gold cling to it, the price might yet find solace. But if it breaks? Well, let’s not summon the specter of $3,000 just yet. Not without a stronger cup of tea.
BTC/XAU Ratio: A Dance on the Edge of a Trendline 🕺🔪
The weekly BTC/XAU chart is a tragedy in the making. The ratio has plunged below its ascending trendline-a line so ancient it predates the Ruble’s last crisis. Has the breakdown begun? Or is this merely the plot twist in a three-act market opera? Only time, and perhaps a sacrifice to the crypto gods, will tell.
Yet here’s a silver lining (though gold, apparently): the 0.5 Fibonacci level clings stubbornly to 25 ounces. A support so steadfast, one might think it’s been greased with alchemical secrets. Meanwhile, the Stochastic RSI, those glum court jesters, inch upward like hopeful romantics. Fools.
A Bounce for BTC? Or a Prequel to Hubris? 🚀🎭
The two-week chart whispers of a potential rebound-if Bitcoin can survive until Friday’s close. Should it cling to the 25-ounce lifeline, a bounce might commence. But let’s not confuse hope with strategy. The Stochastic RSI, even in the monthly view, remain at rock bottom. A rally? Perhaps. A new all-time high above 41 ounces? Why not? After all, what’s finance without a dash of madness?
And thus, dear reader, we await the next act in this farcical ballet of numbers, where every candlestick holds the weight of empires-and the ghost of Keynes, sipping borscht in the background.
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2025-11-07 15:21