Is Silver Leading Bitcoin or is Bitcoin Leading Silver? / Commodities / Gold & Silver 2020

Is silver leading Bitcoin or is Bitcoinleading silver? Well, it depends on which time framing one is looking at.

On this chart comparison below, silverappears to be leading the way higher compared to Bitcoin:

I have marked out points (A to C and 1 to 5)on both charts to show how patterns on both silver and Bitcoin could besimilar. Point C represents the lows for both silver and Bitcoin in March ofthis year.

Both have exceeded the highs of the markedpattern, but it is the way, and timing of how they have done it that is ofinterest.

Silver was the first one to breakout of itshigh. Bitcoin followed suite about 108 calendar days later. If the comparisonstays valid, then Bitcoin is currently moving towards a similar point 3 thatsilver already reached in August of this year.

Bitcoin is currently playing catch up, andthis brings us to why Bitcoin is actually leading in the short-term time frame(to catch silver it has to lead in the short-term).

Below, is another comparison of silver andBitcoin:

Again, I have marked similar patterns onboth charts to show how they could be similar. Bitcoin has already exceeded itsrecent high (point 3) and is much favoured in the short-term.

Silver is still lagging below the recenthigh (point3), and just like Bitcoin did in the previous comparison, willeventually follow Bitcoin higher than point 3 in this comparison.

In my previousarticle, I have shown how a certain signal has already prepared theway for higher silver prices. The market is trying its best to shake some weakhands before it goes much higher.

In summary, it is fair to say that based onthe above comparisons and the fact that silver and Bitcoin are   considered alternatives for a failingdollar, Bitcoin’s recent breakout should give silver bulls hope thatsilver will soon rise much higher.

Remember the larger cycle:

For more on this, andsimilar analysis you are welcome to subscribe to my premium service. Ihave also recently completed a Silver Fractal Analysis Report as well as a Gold Fractal Analysis Report.

Warm regards,

Hubert

“And it shall come to pass, that whosoevershall call on the name of the Lord shall be saved”

http://hubertmoolman.wordpress.com/

You can email any comments to hubert@hgmandassociates.co.za

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