Gold- Will it follow Bitcoin's path?
Last week was a volatile week for Gold, with price fluctuating up and down in a range of around 500 pips, but couldn't decide on a direction.
What was clear from my point of view is that rallies above 1800 were sold and that we have clear support around 1770.
This support, in my opinion, is not given by strong buying but the lack of selling there and eventually will fall.
If we are to make an analogy with Bitcoin, 1770 is too obvious...
Technically speaking, above 1800 is a strong sell zone and only a daily close above this zone would put a pause in my bearish scenario.
I will look to sell rallies towards 1800 and my target remains 1720
What was clear from my point of view is that rallies above 1800 were sold and that we have clear support around 1770.
This support, in my opinion, is not given by strong buying but the lack of selling there and eventually will fall.
If we are to make an analogy with Bitcoin, 1770 is too obvious...
Technically speaking, above 1800 is a strong sell zone and only a daily close above this zone would put a pause in my bearish scenario.
I will look to sell rallies towards 1800 and my target remains 1720
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t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
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