END OF TRIANGLE CLOSE TO CRYPTO SURGE TIME - GC1! - GOLD - DAILY
The lines traced in the previous analysis of the GC1! Gold Future are still legit.
The blue line is the main line telling about the probable story of this market. Beware, we have seen the market going up suddenly after having touched it last time.
The above red line is the potential roof that could be break anytime and would open a large space for a possible bullish movement.
The orange line acts like a heart beating, accelerating as the market price approaches the end of this triangle.
The interesting thing to note is that more and more investors are getting information about the cryptocurrency world. Bitcoin's market cap vs Gold market cap...
The exit of the world lockdowns and hard situations sustain the sentiments of fear over what is the future about in the traditional economy.
Gold GC1! price would be likely to react to that and cryptocurrencies are getting popular.
There are no coincidences, the end of the triangle is possibly matching with the surge of some cryptos seeing projects delivering their layer 2 solutions (like ETH) or creating smart contract in their new step of development (like ADA). We see more and more forecasts about the increase of stock investors diversifying their portfolio with some cryptocurrencies in the near future.
At the moment, GC1! Gold Future price could do a pullback on the red line or just break it. It probably better to observe and wait for a significative break of the red or the blue line, then follow the trend by dollar cost averaging and not letting position float for long time.
The blue line is the main line telling about the probable story of this market. Beware, we have seen the market going up suddenly after having touched it last time.
The above red line is the potential roof that could be break anytime and would open a large space for a possible bullish movement.
The orange line acts like a heart beating, accelerating as the market price approaches the end of this triangle.
The interesting thing to note is that more and more investors are getting information about the cryptocurrency world. Bitcoin's market cap vs Gold market cap...
The exit of the world lockdowns and hard situations sustain the sentiments of fear over what is the future about in the traditional economy.
Gold GC1! price would be likely to react to that and cryptocurrencies are getting popular.
There are no coincidences, the end of the triangle is possibly matching with the surge of some cryptos seeing projects delivering their layer 2 solutions (like ETH) or creating smart contract in their new step of development (like ADA). We see more and more forecasts about the increase of stock investors diversifying their portfolio with some cryptocurrencies in the near future.
At the moment, GC1! Gold Future price could do a pullback on the red line or just break it. It probably better to observe and wait for a significative break of the red or the blue line, then follow the trend by dollar cost averaging and not letting position float for long time.
