Gold price is forming critical triangle and may breakout on either side.
If the gold loose it's important support of 1930 It's probable that we get to 1830 and on the other way if it breaks the upper side we expect to reach the previous high of 2080.
in HTF(daily & weekly ) we are seeing uptrend that supported by fundamental reasons (post halving and being economical for miners)but in LTF(4H,1H) market trend is not clear and downward movement is possible.we are watchful and waiting to start next market movement and will ride after starting it(do not estimate next movement of market).THIS IS SECRET OF MARKET...
in this chart we seen that price touch the junction of both channel line and triangele floor then by the elliot wave strategy we predict upward wave(5) and price go up for touching the up channel line .
I think it's important ,first cme gap of previous contract filled by rising price to 9000,the major market maker start to selling their btc and big downtrend will be started after cme gap filling .after it we have significant price deceasing in day by whales game playing (they will start selling and buying at same time )and buy coins from market floor...
I think btc will drop down to 6000 usd for complete the head latral border then will start to create Rt shoulder (price will rise up to 6600 and after it we will have last and big downtrend to 4400-5000 usd.
iI think the trend is bearish but we have bullish power for future contracts gap filling and it's possible we come back to downtrend again because both tech and fundemantal analysis support the bearish trend
at the first ; big whales started huge sell and created fomo and then bought huge volume in 3800 usd
then in second part of game medium marketmakers entered to rally and made sell fomo and collected coin at 4550 usd
at the end of this scenario small marketmakers play last game and bought their coins in bottom 5000 usd
at first of game big whales started huge sell and made fomo and then bought huge btc volume in 3800$
then medium market maker entered to game and created another fomo and collect btc from 4550$
at end of this scenario small whales made a last game and bought their coin in 5000$
and now after breakout retailers start buying