💰💸BTC/Gold Ratio Attempts Recovery as Double Bottom Forms Near 21.7💸💰
$BTC The Bitcoin-to-Gold ratio is showing early signs of stabilization after months of decline, with analysts watching a potential double bottom forming near the 21.7 level — a pattern that could signal the start of a momentum shift.
👉 The ratio is currently hovering around 21.76 on the 3-day chart after a steep fall from the 28–30 zone earlier this year. This emerging double bottom suggests the downtrend may be losing strength as selling pressure begins to cool.
👉 Technically, BTC still faces strong resistance. Both the 50-day and 200-day moving averages are trending downward and acting as barriers. A large volume profile cluster between 28–32 highlights where previous battles were fought — and where heavy resistance will likely return if the ratio rebounds.
👉 Price candles are now bunching above recent lows, forming the second bottom. But confirmation won’t come until BTC breaks above those falling moving averages and pushes into the 27.5 resistance zone. RSI remains low, reflecting prolonged weakness but also offering room for a relief bounce.
👉 Why it matters:
A confirmed double bottom often signals trend exhaustion and a potential reversal. If Bitcoin can defend the 21.7 base and start climbing, it may mark a shift in BTC’s performance relative to gold — hinting that risk appetite could be returning to the market.
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