Technical Analysis: Gold went down today, but it did not go below the support level stablished by the trend line. A big bounce as soon as we touched the trend line at $1,795. Below that level would have caused a drop to $1,780-$1,785 but we managed to bounce above that level. For me to become bullish, I would have to see the price break above this symmetrical triangle, which translates to going above $1,859. Also, if we go that high soon then a big chunky bullish reverse H&S will be very clear for all to see.
Fundamental Analysis: Due to mistakes (hyperinflation, political instability, and weak dollar) made in the past Gold managed to go up by 24 times between 1970-1980. Those mistakes are being repeated again and when you don’t learn from your past mistakes you’re bound to make those same mistakes again which might lead to another big jump in the price of Gold & Silver. People say well, there is digital gold and we no longer need to buy outdated metals to protect ourselves from calamity. But when your so called digital gold or btc loses its value by 50% in a few weeks, is that really a protection from hyperinflation, political instability, and a weak dollar? I don’t think so. I would love to have money in crypto, but investing money requires almost all investors to master technical analysis, which makes it a harder asset to invest in than other assets in my opinion, because most assets you have a technical side and a fundamental side to it. Well, btc is pure technical, it has no fundamentals to follow as all of its fundamentals were programmed at the time it was being programmed by its developers. It’s a lot harder to go bankrupt investing in Gold and Silver than to go bankrupt on cryptocurrencies, because Gold & Silver give you time to pull out before it's too late, but by the time you pull out of a crypto downtrend you’re already almost finished. I also want to mention what happens during political instability...we are in 21st century with increasing conflict amongst the nations of the earth...when a country wants to attack another country they won’t come door by door to take your gold from you, but if you’re in crypto they can leave you empty handed, by 1) hacking your assets, 2) hacking power stations so no electricity for you. 3) hacking wireless connections so no online exchanges for you to buy and sell your crypto.
I don’t want to talk about war, politics, and calamity, but these factors impact the price of an asset that has been around for at least a few thousand years and if it impacts the price then I should have the right to mention it here. Political leaders tell people inflation is transitory, and by that they really mean inflation will turn into hyperinflation.
Fundamental Analysis: Due to mistakes (hyperinflation, political instability, and weak dollar) made in the past Gold managed to go up by 24 times between 1970-1980. Those mistakes are being repeated again and when you don’t learn from your past mistakes you’re bound to make those same mistakes again which might lead to another big jump in the price of Gold & Silver. People say well, there is digital gold and we no longer need to buy outdated metals to protect ourselves from calamity. But when your so called digital gold or btc loses its value by 50% in a few weeks, is that really a protection from hyperinflation, political instability, and a weak dollar? I don’t think so. I would love to have money in crypto, but investing money requires almost all investors to master technical analysis, which makes it a harder asset to invest in than other assets in my opinion, because most assets you have a technical side and a fundamental side to it. Well, btc is pure technical, it has no fundamentals to follow as all of its fundamentals were programmed at the time it was being programmed by its developers. It’s a lot harder to go bankrupt investing in Gold and Silver than to go bankrupt on cryptocurrencies, because Gold & Silver give you time to pull out before it's too late, but by the time you pull out of a crypto downtrend you’re already almost finished. I also want to mention what happens during political instability...we are in 21st century with increasing conflict amongst the nations of the earth...when a country wants to attack another country they won’t come door by door to take your gold from you, but if you’re in crypto they can leave you empty handed, by 1) hacking your assets, 2) hacking power stations so no electricity for you. 3) hacking wireless connections so no online exchanges for you to buy and sell your crypto.
I don’t want to talk about war, politics, and calamity, but these factors impact the price of an asset that has been around for at least a few thousand years and if it impacts the price then I should have the right to mention it here. Political leaders tell people inflation is transitory, and by that they really mean inflation will turn into hyperinflation.