🔥 🔥 🔥 Gold #XAU Bitcoin #BTC , early-market outlook for today
Gold $XAU is following last week’s rebound path, steadily digesting and testing resistance around 3961 through sideways consolidation ($XAU historical trading-pair data is not Binance trading-pair data; when using it, match it to the corresponding Binance trading-pair data). What favors the bulls is that the bottom of the sideways range keeps rising. The most likely direction going forward is a breakout above resistance around 3961, which would form a bottom reversal. However, stay cautious: if the hourly structure for Gold $XAU deteriorates, abandon the bullish outlook.
For Bitcoin (BTC), looking at the daily chart, price will certainly test support around 75,000 in the near term. On the hourly chart, current trading data is not very favorable for going long. The best opportunity to go long would be if price tests the area around 75,000 and holds. For now, the more favorable strategy is to short around 78,000–79,000.
Gold $XAU is following last week’s rebound path, steadily digesting and testing resistance around 3961 through sideways consolidation ($XAU historical trading-pair data is not Binance trading-pair data; when using it, match it to the corresponding Binance trading-pair data). What favors the bulls is that the bottom of the sideways range keeps rising. The most likely direction going forward is a breakout above resistance around 3961, which would form a bottom reversal. However, stay cautious: if the hourly structure for Gold $XAU deteriorates, abandon the bullish outlook.
For Bitcoin (BTC), looking at the daily chart, price will certainly test support around 75,000 in the near term. On the hourly chart, current trading data is not very favorable for going long. The best opportunity to go long would be if price tests the area around 75,000 and holds. For now, the more favorable strategy is to short around 78,000–79,000.
