After a brief consolidation in the last two weeks, BTC opened this week with negative sentiments. BTC formed a Doji candlestick on the weekly TF which depicts that market participants are currently in a state of indecision. At the time of writing, BTC is already down by more than 7% on the weekly basis.
On the downside, BTC is trying to sustain above its 50-WEMA...
my 2nd scenario for gold, i have posted a chart with a bullish outlook as-well.
will be waiting for confirmations before taking any action, Bulls could still pull this back, the MACD is very close to flipping.
let me know your views in the comments!
I realized on my last analysis that we can't have an ending diagonal at my last forecast. Rather a continuation of the tested WXY-WXYXZ combo correction. Along with the 50 and 200ma DEATH CROSS.
Trend is our friend. Simply break that resistance line then this bear scenario is invalidated.