Long
"Gold Rush" - Rest in peace, Bitcoin!
Gold or Bitcoin?
If you asked Millennials about investing in Gold, they would probably just tell you to get some Bitcoin. And they are not wrong. At least they weren't for the last 5 years. Meanwhile, Gold is up only a couple of points from 2011 levels. We don't really know how inflation effects crypto. We are yet to find out. What we do know is how it effects gold. And that's why I think we can see a lot of green candles in the next couple of months.
What can we see looking at the chart?
In recent moths, we formed a pennant pattern. If I'm right and gold continues to push higher, we can have a nice breakout to the upside.
Trading plan
In case don't own any gold, I would suggest you to get some now. I believe it's a good long-term play. If you want to be certain, I would wait for a breakout to happen, and then I would get in. Be aware that sometimes breakouts fail. To learn more, I would recommend you to read this article: investopedia.com/terms/f/failedbreak.asp
I hope this helps! See you soon.
If you asked Millennials about investing in Gold, they would probably just tell you to get some Bitcoin. And they are not wrong. At least they weren't for the last 5 years. Meanwhile, Gold is up only a couple of points from 2011 levels. We don't really know how inflation effects crypto. We are yet to find out. What we do know is how it effects gold. And that's why I think we can see a lot of green candles in the next couple of months.
What can we see looking at the chart?
In recent moths, we formed a pennant pattern. If I'm right and gold continues to push higher, we can have a nice breakout to the upside.
Trading plan
In case don't own any gold, I would suggest you to get some now. I believe it's a good long-term play. If you want to be certain, I would wait for a breakout to happen, and then I would get in. Be aware that sometimes breakouts fail. To learn more, I would recommend you to read this article: investopedia.com/terms/f/failedbreak.asp
I hope this helps! See you soon.
Disclaimer
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