if it is above 9000 and the break through the resistance line on a logarithmic chart this is a serious signal to offer a market turn!
Comment:
The Chicago Mercantile Exchange notes panic buying of gold, triggered by fears of the US-Russia conflict in Syria. Gold has peaked since August 2016. It seems that the current growth in the rate of the Crypto-currency reflects the influence of the same factors. Thus, depreciation often occurs during relative stability, and a sharp increase in the escalation of geopolitical factors. And this is a very dangerous indicator for the Fed, saying that in the event of a real conflict, investors can get rid of the dollar panicky, which will inevitably plunge financial markets into a crisis and raise the price of gold and crypto-currencies. Todd Colvin of Ambrosino Brothers suggests that if the conflict develops, alarmists will run to buy up gold with two hands. Meanwhile, the administration of the US president is considering the possibility of a second strike on Syria, which will likely bring bitcoin to the $ 12K mark. This also leads to the conclusion that bitcoin in the eyes of investors is the second valuable asset - it is digital gold.
Trade closed: target reached:
NIce!