Gold still slipping? S&P and Bitcoin about to join the slide?
Thus far gold has failed to test the $1990 spot level I've talked about . This while momentum looks to be at risk of sputtering out before price has a chance to get there. I remain as cautious on gold as I have been the last few weeks, with a sharp eye on $1930.
S&P futures have finally reached the top of the yellow box I have been showing for months. Will the index get to the blue bar in the below chart? I was bullish in the fall and winter of 2022 as a contrarian. This weekend I read a few articles in mainstream financial media about how"wall street's biggest bears" have finally thrown in the towel. Some major institutions have revised their 2023 S&P targets higher .
I am not saying that those same participants are on the wrong foot yet again, turning bullish at"THE" top – but perhaps just at a short term top. Friday's gap up could be a sign of short term exhaustion and daily candles are poking outside the top Bollinger band range. If you're a trader sitting in profit, taking some off the table would be prudent here in my opinion.I am still eyeing that 25k level shown in the yellow bar on the above daily chart.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Bitcoin trades at a discount on Binance.US after major announcementThe SEC's legal action against Binance has created ripples across the crypto market, impacting the dynamics of the BTC/USD trading pair.
Lire la suite »
Bitcoin’s quest for breakthrough: A catalyst for LTC and XRP?In recent times, LTC AND XRP decoupled from BTC's dominance. However, the assets might need the king coin's input to breakout.
Lire la suite »
Bitcoin: Traders bet on sideways momentum for BTC as…Bitcoin's Implied Volatility declined rapidly indicating the anticipation of low fluctuations of price from the options market.
Lire la suite »
Bitcoin: Will bearish sentiment let up next week?The market structure of Bitcoin was bearishly biased on the 4-hour chart, and the $27.4k level represented a recent lower high.
Lire la suite »
Bitcoin: HODLers unperturbed despite market volatilityFrom an on-chain perspective, Bitcoin holders are unfazed by the market shake-up. Will they be resilient till respite?
Lire la suite »
Bitcoin’s long-term prospects look…A CryptoQuant analyst suggested that Bitcoin has a positive future due to various factors. However, selling pressure on miners could pose a threat to BTC's future.
Lire la suite »