Hello Traders 🐺
I hope you're doing well — especially if you followed my last idea, because you probably took some chips off the table and got prepared for a healthy correction.
As I mentioned before, if BTC (aka digital gold) starts to bounce, there's a strong chance we’ll see a correction in GOLD — because these two assets are starting to decouple. At the time of writing this idea, BTC is up nearly 10% compared to two days ago, while GOLD has dropped around 6% and printed a very bearish candlestick pattern. Let me show you:
BTC vs GOLD:
As you can see on the chart above, BTC has broken out of a bullish flag, while GOLD is printing a potential local top — at least in the short term.
📉 My personal price targets for GOLD:
First Target: Around the support trendline at 3088$. If you want to be more conservative — since we’re still in an uptrend — it’s smarter to take profits and buy back around the 0.5 Fibonacci level.
Second Target (Worst-case scenario): Around the blue monthly support trendline — near the 0.786 Fibonacci level — somewhere around 2850$. Why? Because the RSI shows a triple top and a strong bearish divergence. If this pattern plays out, we could see more short-term pain in GOLD.
I hope you enjoyed this idea — and as always, remember:
🐺 Discipline is rarely enjoyable, but almost always profitable. 🐺
🐺 KIU_COIN 🐺
I hope you're doing well — especially if you followed my last idea, because you probably took some chips off the table and got prepared for a healthy correction.
As I mentioned before, if BTC (aka digital gold) starts to bounce, there's a strong chance we’ll see a correction in GOLD — because these two assets are starting to decouple. At the time of writing this idea, BTC is up nearly 10% compared to two days ago, while GOLD has dropped around 6% and printed a very bearish candlestick pattern. Let me show you:
BTC vs GOLD:
As you can see on the chart above, BTC has broken out of a bullish flag, while GOLD is printing a potential local top — at least in the short term.
📉 My personal price targets for GOLD:
First Target: Around the support trendline at 3088$. If you want to be more conservative — since we’re still in an uptrend — it’s smarter to take profits and buy back around the 0.5 Fibonacci level.
Second Target (Worst-case scenario): Around the blue monthly support trendline — near the 0.786 Fibonacci level — somewhere around 2850$. Why? Because the RSI shows a triple top and a strong bearish divergence. If this pattern plays out, we could see more short-term pain in GOLD.
I hope you enjoyed this idea — and as always, remember:
🐺 Discipline is rarely enjoyable, but almost always profitable. 🐺
🐺 KIU_COIN 🐺
_____________________________________
🐺 Discipline is rarely enjoyable ,
But almost always profitable 🐺
TElEGRAM CHANNEL : t.me/KIU_COIN
_____________________________________
🐺 Discipline is rarely enjoyable ,
But almost always profitable 🐺
TElEGRAM CHANNEL : t.me/KIU_COIN
_____________________________________
Related publications
Disclaimer
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.
_____________________________________
🐺 Discipline is rarely enjoyable ,
But almost always profitable 🐺
TElEGRAM CHANNEL : t.me/KIU_COIN
_____________________________________
🐺 Discipline is rarely enjoyable ,
But almost always profitable 🐺
TElEGRAM CHANNEL : t.me/KIU_COIN
_____________________________________
Related publications
Disclaimer
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.