PAXGBTC trade ideas
Drop Fiat Challenge... Trade Of The Century! - Bitcoin Vs GoldMultilayered strategy.
With inflation running hot into the foreseeable future Bitcoin and Gold have my full attention.
Expecting Gold to hit new lows against Bitcoin over the next few days.
Short term 2 bar trail.
Longer term hodl... continuing to cost average into short position until 4th quarter.
Pax Gold / BTC Bullish ScenarioPrice forming a rang and its looking like accumulation schematic according to Wyckoff. Higher Low was made right by the demand zone.
PAXG/BTC 4h (Binance Spot) Descending channel on support, againI know, I'm trying hard with #PaxGold but I've got that feeling it will be worth it.
XAU (true #Gold) is very bullish, not as much as BTC but still, take that as a hedge position if crypto market dips!
Current Price= 0.12701
Buy Entry= 0.12535 - 0.12161
Take Profit= 0.13208 | 0.13858 | 0.14987
Stop Loss= 0.11488
Risk/Reward= 1:1.2 | 1:1.76 | 1:3.07
Expected Profit= +6.96% | +12.23% | +21.37%
Possible Loss= -6.96%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 360h
PAXG/BTC 12h (Binance Spot) Descending channel on support#PaxGold is a digital asset where one token is backed by one fine troy ounce of gold bar.
Right now price is holding on parallel channel support, I believe it's a great opportunity to hedge some Bitcoin after such bull run!
Current Price= 0.14543
Buy Entry= 0.14300 - 0.14628
Take Profit= 0.15235 | 0.16302 | 0.16798
Stop Loss= 0.13693
Risk/Reward= 1:1 | 1:2.38 | 1:3.03
Expected Profit= +5.33% | +12.71% | +16.14%
Possible Loss= -5.33%
Fib. Retracement= 0.236 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 720h
PS: Fibonacci 0.786 at 0.17576 BTC with R/R= 1:4 would be an even better last target if you're up to it...
Gold against BTC - bullish summerBTC correction, Gold pump, or combination of both. Been averaging into both.
GOLD CRYPTOS - INTERESTING COMPARISON AND ARBITRAGESHere an interesting comparison between the two main gold-replicating coins
PAX/BTC
XAUT/BTC
with gold itself.
While pax replicates pretty loyally, pax's value tends more to oscillate around the gold value.
Currently the difference is 0.03 btc (13%). Let's see how it plays out to consider this trade in the future.
PAXGXBT - Gold and cryptoIf there is any uncertainty in risk-on crypto, this might be a good hedge to scale into for both short term and long term. Momentum looks good. Technical look good. Fundamentals are solid. RSI is could go either way. MACD a little light red, but improving. Possibility of small drop to retest. And/or If XBT , BTC pops, then that's great. This would still be a good hedge in case of an unexpected Btc reversal.
PAXGBTC: Testing resistanceHello, wonderful person!
Pax Gold (PAXG) Testing resistance
BTCVol24h: -138%
Pairs: +10%
CryptoRatingBot: -105%
* % up/down from last established support
PAXGXBT stands at a crossroadsThis morning at about 01:00 EDT, KRAKEN:PAXGXBT made a reasonable jump from about 0.232674 XBT to 0.25 XBT before tapering forward to a point (at which we now find ourselves). While the majority of the crypto-sphere is down this morning (with a few exceptions like KRAKEN:WAVESXBT ) the downward trend of KRAKEN:XBTUSD has been known to liberate altcoins to go higher. That may just be the case with PAXGXBT within the next couple hours.
