Bitcoin continued to hold in there like a champ, not even breaking $70k last week. This looks like the stuff that basing patterns and emerging bull markets are made of. As of this writing (Sunday morning) Bitcoin as of the weekend risk-on/risk-off proxy has dipped below $70k, but in my opinion even a dip back into the mid-60’s will not change the resilient price action.

💹The chart below shows Bitcoin and its power law curve. We can see that the $60k level is a support level based on previous highs and lows as well as where the power law support curve is (or will be after a few months of backing and filling). Now look at the bottom panel. This shows the Z-score of the gold/silver ratio (blue) as well as the gold/Bitcoin ratio (orange). While gold is “cheap” compared to silver, it’s “expensive” compared to Bitcoin. We are not quite at the extremes seen at previous inflection points but we are getting close.

It gets better. Taking a close-up look below, we can also see that the gold/Bitcoin Z-score has produced valuable divergences at past extremes. At both the 2021 and 2025 tops, the Z-score triggered a bearish divergence at the new Bitcoin highs, and it flashed a bullish divergence at the 2022 low.

#TechnicalAnalysis #Bullish #Bull #News #Pump $BTC $ETH $WLFI 📈🚀🌕
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