Recently, the price of BTC has been fluctuating a lot. When the price of BTC goes up or down sharply, it might change how market investors feel about risky assets. This feeling could spread to the gold market, which we often refer to as XAUUSD .
And it could affect how much people want to invest in gold and the price of gold too. For instance, if BTC drops a lot because of things like market regulation, investors will lose confidence in risky assets. Then some of their money will probably flow into the XAUUSD market to play it safe, and that'll push up the price of XAUUSD.
Overall, in the short - term operation of gold today, it is recommended to focus on buying on dips and selling on rallies. Pay attention to the resistance level of 2920 - 2925 in the short - term above, and the support level of 2900 - 2905 in the short - term below.
XAUUSD sell @2920-2925
tp: 2900-2905
XAUUSD Buy @2900-2905
tp: 2915-2920
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
If you also aspire to achieve financial freedom，Follow the link below to get my daily strategy updates
And it could affect how much people want to invest in gold and the price of gold too. For instance, if BTC drops a lot because of things like market regulation, investors will lose confidence in risky assets. Then some of their money will probably flow into the XAUUSD market to play it safe, and that'll push up the price of XAUUSD.
Overall, in the short - term operation of gold today, it is recommended to focus on buying on dips and selling on rallies. Pay attention to the resistance level of 2920 - 2925 in the short - term above, and the support level of 2900 - 2905 in the short - term below.
XAUUSD sell @2920-2925
tp: 2900-2905
XAUUSD Buy @2900-2905
tp: 2915-2920
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
If you also aspire to achieve financial freedom，Follow the link below to get my daily strategy updates
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.