TheRealPeaches

TheRealPeaches

Purple - Local Resistence Green - Monthly Open/Close Red - Weekly Support/Resistence Yellow - Trendline Support Price was sharply rejected at ATHs, falling over $2000. This lends the chart an obvious bearish tone. From there, we've made lower lows and lower highs, as expected. However, price remains bid above 9k for now. Are there clues of bullish continuation?...

TheRealPeaches

In my last post on Gold, I was looking to short at trendline resistance. This hit on 11/17 and contained price as expected. However, price briefly went above the trendline, and then was sharply rejected lower, to Monthly support at 1271. When price makes a false move, it makes a fast move in the opposite direction. We are now back in the wedge that has been...

TheRealPeaches

The fork or channel setup from yesterday is now invalidated as price meandered above and below the lower trendline. A clearer picture is emerging - buyers are quick to act whenever price nears 7000. A succession of higher lows leans more bullish, and may be in indication that we are preparing for the next leg higher. I freely admit that I cannot determine what...

TheRealPeaches

Gold is in a holding pattern. There is fantastic support between 1260 and 1270. This has been defended well. On the other hand, price has collapsed from 1360 and has not been sustained above 1300 since. There is a possibility that Gold will be rejected again, preferably at a confluence of the trendline and monthly support/resistance at the 1296 area. Only a daily...

TheRealPeaches

Bitcoin sharply rejected ATH. However, the breakdown didn't break new lows, and we are consolidating above previous lows. All things considered, we remain in an upward channel. However, caution is advised as we're in the lower portion of the channel, suggesting that momentum has somewhat decreased. A rejection of the mid channel line, or 7580 area, or a...