H4 - We have a key resistance zone that has formed by the 100% (1778.34) fibonacci expansion level of the first wave and the 61.8% (1794.43) fibonacci expansion level of the second wave.
The price which was moving higher reached this key resistance zone, respected it and is currently holding below it. Bearish divergence.
H1 - We had the first leg to the downside and currently, it looks like a correction is happening in the form of an ABCD pattern.
Expecting further continuation lower after a valid breakout below the most recent uptrend line.
Note: We have Non Form Payroll news release today, please pay attention to that.
I think trying to fight a Gold bull is a fools errand. You're just wasting your time.
DawnButlers
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Excellent analysis. I have heard of a prediction/calculation of as low as 650-2000... It could happen considering who is in the US Treasury. Then a huge move to new highs... The bad guys all the best cryptos at he lows. If I was such an evil one, thats what I would do,,, psychologically destroy/demoralize the true believers..