Gold just dropped 17% — and Bitcoin is now leaning on its 200-day EMA. That is not a coincidence.
Midterm election chaos plus wild oil swings pushed money into the dollar and out of everything else. Leverage got flushed on both sides.
Commerzbank says the gold selloff is overdone. Maybe. But price decides, not opinions.
Levels I am watching: XAU/USD holding 3,950 USD, with 3,975 USD as the reclaim line. Lose 3,900 USD and the multi-year uptrend gets tested. $BTC has to defend that 200-day EMA — hold it and we bounce, lose it and the flush deepens.
Gold or $BTC this week?
#Gold #XAUUSD #Bitcoin
Midterm election chaos plus wild oil swings pushed money into the dollar and out of everything else. Leverage got flushed on both sides.
Commerzbank says the gold selloff is overdone. Maybe. But price decides, not opinions.
Levels I am watching: XAU/USD holding 3,950 USD, with 3,975 USD as the reclaim line. Lose 3,900 USD and the multi-year uptrend gets tested. $BTC has to defend that 200-day EMA — hold it and we bounce, lose it and the flush deepens.
Gold or $BTC this week?
#Gold #XAUUSD #Bitcoin
