🔷️ $GOLD ’s weekly chart is showing a clear falling wedge formation. 📉
The pattern developed through a prolonged contraction, with both trendlines converging as selling pressure gradually weakened.
The recent breakout above the upper trendline is the key development here. 📈
Now the focus is on whether #Gold can hold above the broken structure. A successful retest would strengthen the breakout, while falling back inside the wedge would weaken the setup. 👀
This is a much more interesting structure than simply looking at the latest candle.
⚠️ This is not financial advice.
#Bitcoin #Ethereum #Crypto #BTC
The pattern developed through a prolonged contraction, with both trendlines converging as selling pressure gradually weakened.
The recent breakout above the upper trendline is the key development here. 📈
Now the focus is on whether #Gold can hold above the broken structure. A successful retest would strengthen the breakout, while falling back inside the wedge would weaken the setup. 👀
This is a much more interesting structure than simply looking at the latest candle.
⚠️ This is not financial advice.
#Bitcoin #Ethereum #Crypto #BTC
