dRends35

GOLD - Another "Safe Haven" Asset In Trouble

Short
COMEX:GC1!   Gold Futures
GOLD has rejected sharply off the 0.618 Fibonacci retracement and looks to be on the next leg down. If in a zig-zag ABC correction then price may bottom in the $1500 area towards the end of year. If price has completed a wave 2 however then price could see $1000 again perhaps around end of 2023.

Trade active: 0.618 fractal on LTF also. Two 0.618 rejections on HTF and LTF and this now looks like a great short setup here also down to $1500 area. Will cover more down the road.

Comments

If Gold goes to 1000 $ again BTC will go back to 3000 if not below 3000.
+1 Reply
dRends35 supremetrejdr
@supremetrejdr, Could be.
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bkprofits supremetrejdr
@supremetrejdr, Where is the correlation? Money is being printed left and right with people wanting to hedge against inflation.
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supremetrejdr bkprofits
@bkprofits, Gold is a stronger asset than Bitcoin.
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dRends35 bkprofits
@bkprofits, Its just one big cat and mouse misinformation game. Both gold and crypto are in a bear market.
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hello. what about BTC? now it s about 40k..do you think that drop again to 30k or deep? rsi on 1D it 57. thank you
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@SmallGiant7 check out his other posts
Reply
i see the other posts....i see the graphics., i ask him if he has the same opinion
Reply
supremetrejdr SmallGiant7
@SmallGiant7, and now its at 36k :)
Reply