For anyone looking for hidden gems in the crypto space, please do not let $TRAC go over your heads.
This is an asset with solid fundamentals, and technical analysis that screams BUY.
• Price has been on a longterm uptrend since December 2019, reached a new ATH in Sept 2020 and has since decreased to lows not seen since June 2020
Gold is struggling to break above the prior ATH of 1921, and has broken beneath my March Uptrend line - it opened and closed beneath this yellow trend line on Friday.
If we don't get support form the 100 D MA, downward pressure will likely extend to 1843-1855. Let's see how the week goes!
Potential for a long position on EURGBP over the next coming days
Schiff fork touches the edge of the channel, which is the same area where we have had prior bullish signals this year (see candles highlighted) thereby making this a likely area of reversal from the current downtrend that began around this time last month
If the price holds in this outlined area...
Long term picture for Gold remains bullish
We're still consolidating between 50 and 100D SMA. But March is currently uptrend under a lot of bearish pressure
Another failure to break above old ATH may mark the start of a new corrective leg
Break beneath 100D MA could go all the way down to 1800. This may present a HUGE buying opportunity as the overall...