Will Gold go bearish in the short-term with crypto rush?
This chart suggests a short-term bearish outlook for gold, with a potential breakdown targeting $2,665 and $2,536, unless it breaks above $2,790 to resume its uptrend. In the short- and medium-term, gold could face heightened competition from a crypto-rush, fueled by a crypto-favorable stance from the new administration in Washington, potentially accelerating digital asset adoption as an alternative store of value.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.