Gold could fall below 3,600, and this move really has nothing to do with macro factors. The two-week candlestick chart has already formed a massive downward pattern. $BTC has even been brought up in comparisons of safe-haven assets, but this gold move is purely driven by trading: people who made money in the bull market are gradually cashing out and leaving, while bulls who bought at the top are stuck and keep capitulating. It’s a slow grind, and prices could well grind below 3,600.
The dollar index, Fed rates, central-bank gold purchases—please set these factors aside. Give up the wishful thinking, face reality, and stop forcing macro explanations onto this.
My take: When prices are falling, stories are always easier to tell than prices—but candlesticks don’t lie.💰📉
#BTC #Crypto
The dollar index, Fed rates, central-bank gold purchases—please set these factors aside. Give up the wishful thinking, face reality, and stop forcing macro explanations onto this.
My take: When prices are falling, stories are always easier to tell than prices—but candlesticks don’t lie.💰📉
#BTC #Crypto
