In my opinion, there is more reason than there has been over the past two weeks for those long from that $1905 area to hold onto the winning trade.
Here is a zoomed-in weekly gold chart:
And here are the exact same chart parameters applied to BTC:
The bottom for gold may have come on yesterday’s pre-market washout. BlackRock CEO Larry Fink proclaiming the uselessness of gold on CNBC while his company has an application in for a spot Bitcoin ETF with the SEC could be the ultimate final sign.
That said – I remain bullish on Bitcoin as well.
Thanks, and good luck.
