The price of Gold is on the verge of a major decline. The recent decline to the bottom of the rising wedge that started on March 09, 2020 triggered a massive crash in Bitcoin and other cryptocurrencies. That decline would be minuscule compared to what we risk here if XAUUSD crashed below the rising wedge. It could have a crippling effect on Bitcoin and that is also one of the reasons why I expect BTCUSD to decline below $3k this year and for Gold to decline to $1,500 and lower levels.
LEARNING NEVER STOPS.
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LEARNING NEVER STOPS.
If you liked this analysis, please give it a thumbs up and share it. Comment below with your thoughts and suggestions. Good luck! :')
Comment:
Broke below rising wedge as expected. Now we need to see a break below this key support.
Comment:
Key support break. Bearish.