Gold weekly chart.
I think gold is going to carve out a bottom over the next 4-6 weeks potentially testing 2020 - 2025 trendline (previous resistance), which should act as a support and hold at retest. Going to be extremely boring price action within narrow corridor about $4k throughout the summer with upside price action starting early fall...
$XAUUSD Not much of a change on #gold in last few 24hrs. It's still moving sideways and looks like it can be trapped in a minor wave B, possibly even forming a triangle here.
So be aware of another leg lower in wave C of a counter trend movement, which in my opinion will still try to fill that gap near 4218, and 4176 as next the major support area for metals this week, where the current pullback could eventually come to an end.
#Elliottwave
Gold's broken support is acting as a resistance around $4,350, which is once regained opens a way first to $4.6k and then to $4.9k. The question is how long does it take. Under favorable circumstances, gold could reach $4.9k by mid July...
I am not swing long $BTC yet. But I am close.
Over $1,000,000 in profits on my short. But this was the last one of the bear market.
This swing long is focused on the beginning of the bull market.
That is the luxury of being a trader.
You can make money both ways.
But you NEED to understand the market cycles.
And we are about to see a bullish flip end of Q3 into Q4.
I am updating my community first: https://t.co/HA6SUascMs