Gold’s 3-day chart is still showing a clear downtrend. This pattern of resistance is very similar to what we see on $BTC ’s 3-day chart—quite striking. And once a trend takes hold, the period of resistance often drags on for a long time.
For those looking to make a short-term play on a gold rebound, here’s my advice: give up the wishful thinking and face reality.
There are no signs of a bottom forming on the daily chart either; the choppy downward trend remains unchanged.
As gold weakens, capital rotation could mean that $BTC and $ETH attract some safe-haven sentiment instead, so they’re worth watching.
#BTC #Crypto
For those looking to make a short-term play on a gold rebound, here’s my advice: give up the wishful thinking and face reality.
There are no signs of a bottom forming on the daily chart either; the choppy downward trend remains unchanged.
As gold weakens, capital rotation could mean that $BTC and $ETH attract some safe-haven sentiment instead, so they’re worth watching.
#BTC #Crypto
