$BTC Fractal on the gold chart signals a decline in Bitcoin, but it is rising

The fractal on the gold price change chart relative to the value of Bitcoin signals a decline in the cryptocurrency price.

Analysis of the fluctuations in the value of the precious metal relative to the BTC rate indicates that the price of Bitcoin peaks when:

The price of an ounce of gold drops to 0.027-0.028 BTC;

The RSI index on the gold price change chart relative to Bitcoin falls below 30 and enters the oversold zone.

Since 2021, Bitcoin has significantly depreciated three times relative to the precious metal under these conditions. A similar pattern is currently observed, so it can be assumed that the price of BTC will decline and in the near future will not exceed the peak at $99,800, reached on November 22.

Fractal on the gold price change chart relative to the Bitcoin rate

On the weekly chart of BTC fluctuations, the RSI index is in the overbought zone, indicating further correction. Often, the price of the coin decreases to the 50-week moving average line, which is currently around $62,000. Thus, the coin is capable of depreciating by 36%