We are already in the last week of March, and it seems to me that the corrective process outlined in the previous analysis is about to happen.
We are seeing prices losing strength and opening up margins for corrective drops.
As I always mention in my analyses, the long-term chart does not indicate a change in direction, so the increase is still strong for this "time frame".
When we reach the medium term, the SETUP used indicates that very short-term longs are slowly exiting their positions, and I realize that the 59.4K region is the point where they still tolerate remaining long in crypto, therefore, the loss This range will make these "adventurers" leave their positions and look for new purchases at lower levels, such as the 51.9K region.
When looking at the short term, we are working within a corrective bearish pivot, and its strength at the moment is to reach the 59.5K region, where I call the GOLDEN TRIPLE OF SETUP. See the image below.
Observation. The red lines are support points. The loss of it will cause prices to seek the white line and, consequently, the yellow lines.
If prices reach the 59.4K region and fail to overcome the 62.5K region, this could be characterized as a rebound, and prices will tend to correct up to the value of 51.9K as shown on the weekly chart.
Open your eyes!. Therefore, it is time to pay extra attention.
Click here and see other graphical analysis on gold!
Do your analysis and good business.
Be aware, if you buy, use stop loss.
See other graphical analyzes below.
We are seeing prices losing strength and opening up margins for corrective drops.
As I always mention in my analyses, the long-term chart does not indicate a change in direction, so the increase is still strong for this "time frame".
When we reach the medium term, the SETUP used indicates that very short-term longs are slowly exiting their positions, and I realize that the 59.4K region is the point where they still tolerate remaining long in crypto, therefore, the loss This range will make these "adventurers" leave their positions and look for new purchases at lower levels, such as the 51.9K region.
When looking at the short term, we are working within a corrective bearish pivot, and its strength at the moment is to reach the 59.5K region, where I call the GOLDEN TRIPLE OF SETUP. See the image below.
If prices reach the 59.4K region and fail to overcome the 62.5K region, this could be characterized as a rebound, and prices will tend to correct up to the value of 51.9K as shown on the weekly chart.
Open your eyes!. Therefore, it is time to pay extra attention.
Click here and see other graphical analysis on gold!
Do your analysis and good business.
Be aware, if you buy, use stop loss.
See other graphical analyzes below.
