We can see that the pattern we are in mirrors the move from the middle of last year based on the 4 hour scale. We recently came within a couple of dollars of the 200 MA and are now bouncing, just as I predicted in my last post.
We also broke through the top of the flag pattern (not shown) on Friday. With the WuFlu as our catalyst, we should see a new high put in this week or next.
Volume is quite a bit lower than what we saw in the 2019 move, but I believe that is because of an absence of sellers in this market. We might also assume that some of the money that was flowing into gold , has been moved into crypto in the recent weeks, especially in the Asian markets.
We also broke through the top of the flag pattern (not shown) on Friday. With the WuFlu as our catalyst, we should see a new high put in this week or next.
Volume is quite a bit lower than what we saw in the 2019 move, but I believe that is because of an absence of sellers in this market. We might also assume that some of the money that was flowing into gold , has been moved into crypto in the recent weeks, especially in the Asian markets.