Bitcoin vs Gold: Elliott Wave Sparks A Hidden Move You Won’t Believe

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The BTC/Gold ratio drifts around 17 after a proper ABC zigzag, old chum. Coins_Kid on X insists the third wave up is merely getting its hat on. This is pure TA, not financial advice.

On the weekly BTC/Gold pairing, presently hovering about 17.02, a rather different picture has been tiptoeing along for the better part of two years. Most traders haven’t noticed; the few that have are guarding a single level as if it were the last cucumber at a bridge party.

The Setup No Gentleman Wants to Discuss

Cryptic as a telegram from a chess club, Coins_Kid posted the BTC/Gold weekly chart on X, hailing what he called a completed Elliott Wave structure. The tale begins in the tail-end of 2022. From that nadir, the ratio marched in a neat five-way promenade well into late 2024, with wave five tapping the chart’s peak somewhere about 41 on the Fibonacci extension.

Then came the pullback, as if the sofa had decided to reclaim its occupant.

A standard ABC zigzag, as per Coins_Kid’s reckonings on X. The A leg took a dramatic dive, the B leg offered a polite little recovery, and then the C wave barged in with gusto. That is where the ratio currently lounges, pushing into the 0.618 retracement zone around 15.98. The chart peeks at 17.02, bouncing merrily off that very spot.

The 0.786 retracement skulks at 12.35. That level remains untested, and Coins_Kid’s reading seems blissfully unconcerned about it.

What The Fibonacci Levels Are Actually Saying

The retracement grid on the chart is not shy about telling its own tale. The 0.236 lurks at 28.72. The 0.382 nods to 22.96. For most of 2024, the ratio loitered between those two haunts, gradually giving up ground as gold went on its own little vigoreder run in greenbacks.

A look at the ratio’s earlier troughs reveals that this neighborhood has long been a multi-year accumulation haunt. The tune isn’t new; what is fresh as daisies is how uncommonly tidy the wave structure looks.

The 2025 BTC/USD all-time high, if you accept Coins_Kid’s framing, was a bulltrap with a silver-pated bow. His X-soundbite ran: “No one is looking at the truth of the market. Stop looking at BTC/USD. It made a bulltrap high in 2025.”

A stiff claim, indeed. The ratio chart is the juicy bit of argument behind it.

Third Wave Logic

In proper Elliott fashion, third waves are the great long-jumpers-longest and sharpest of the lot. If waves one and two are done with their dusty doings on the BTC/Gold ratio, and the ABC corrective thing has wound up around here, then the next act is a boisterous wave three up.

Coins_Kid put it plainly on X: “In theory the next wave up is a third wave to all-time highs as liquidity rotation begins its little engine.”

Liquidity rotation, that slippery little mechanism, is doing the rounds. Gold has done its sprint; money chasing more glitter has a favourite old club to drift into. A bottom near the 0.618 retracement would fit the story to a tee, nearly as well as a bow tie fits Jeeves.

The word “theory” in that post is no mere decoration-it’s doing full-scale heavy lifting. Elliott counts can be proved fallible as a ping-pong ball. A break below 12.35, the 0.786 level, would put the bullish count under quite serious pressure.

What The Chart Keeps Quiet About

Analysis on the BTC/Gold signal has been bubbling up through several frames of reference over the past months: correlations, RSI readings on the weekly couple, on-chain hoarding, etc. The Elliott count is but one layer in a broader technical picture that keeps pointing at the same corner of the room.

None of this guarantees a schnitzel. Wave four did a long sideways waltz for about 18 months before the fifth wave rose with a flourish.

The ratio clocks in at 17.02. The next major resistance on a comeback would be around 19.16-the 0.5 retracement-before 22.96 peeps into view. A fair distance from those old pretensions of 41.

Disclaimer: This article is based solely on technical analysis from the cited source. It is not financial or investment advice.

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2026-05-09 22:55