-
Gold Builds Buy Setup, Is Bitcoin Next?
Gold dropped within two visible legs close to the area of 61.8% Fibonacci retracement level located at $1,738. The second leg down has overshot the size of the first leg reaching almost 1.272 of its distance. The RSI has shown two legs down either. Initially, the 50 level in the indicator’s sub-chart acted as a support, and then it turned resistance for the joint between two legs. Last Friday’s bar could be a turning point as no fresh low has been established on that day. The buy trigger is located at the top of the joint between two legs down at $1,809. When the trigger is activated, consider limiting the risk ... (full story)