A new day. Woke up and, as usual, the first thing is to check the markets.
Gold surged last night on positive news
(which was later confirmed to be fake news).
Gold is now on the verge of breaking below the 4,100 mark.
Bitcoin also followed gold and surged last night.
It is still moving sideways at elevated levels.
Here are two possible scenarios going forward:
1. If gold holds above 4,100 today
and Shanghai gold keeps climbing,
Bitcoin may continue to fluctuate around its current level of 83,000.
2. If gold breaks below 4,100,
Bitcoin may continue to pull back and fall as well.
Here’s the current situation: Gold surged last night on positive news, the news was later confirmed to be fake, the market panicked and sold off, and prices plunged.
If Bitcoin and gold are to keep rising, there needs to be another piece of positive news today (regarding the U.S.-Iran conflict). Without that, there’s a good chance prices will continue to fall and pull back today.
Whether you’re currently in a long or a short position, the odds look about even right now—roughly 50/50. It all depends on what news comes out next.#BTC #XAU
Gold surged last night on positive news
(which was later confirmed to be fake news).
Gold is now on the verge of breaking below the 4,100 mark.
Bitcoin also followed gold and surged last night.
It is still moving sideways at elevated levels.
Here are two possible scenarios going forward:
1. If gold holds above 4,100 today
and Shanghai gold keeps climbing,
Bitcoin may continue to fluctuate around its current level of 83,000.
2. If gold breaks below 4,100,
Bitcoin may continue to pull back and fall as well.
Here’s the current situation: Gold surged last night on positive news, the news was later confirmed to be fake, the market panicked and sold off, and prices plunged.
If Bitcoin and gold are to keep rising, there needs to be another piece of positive news today (regarding the U.S.-Iran conflict). Without that, there’s a good chance prices will continue to fall and pull back today.
Whether you’re currently in a long or a short position, the odds look about even right now—roughly 50/50. It all depends on what news comes out next.#BTC #XAU