Choughle
@t_Choughle
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Choughle
BTCUSD has already formed the cup and is now developing the handle, completing the cup and handle pattern. This suggests that BTC may soon begin a bullish trend toward $130,000.
Choughle
Gold has been in a bearish trend recently after reaching an all-time high. It is now forming lower lows and lower highs, and it appears that this pattern may continue, especially with seasonal factors supporting this trend.
Choughle
In the 4H time frame, gold is exhibiting a pattern of lower highs (LH) and lower lows (LL). Gold peaked at 2450, and subsequently dropped to a low of 2386.830. By applying Fibonacci retracement from the highest point (2450) to the lowest point (2386.830) within the current 4H time frame, we observe the following: After reaching the high of 2450.125, gold made a lower low at the Fibonacci 0.786 level (2321.775). It then rose to form a lower high at the Fibonacci 0.382 level and made another lower low at 2386.830. Again, it ascended to form a lower high at 2368, which corresponds to the Fibonacci 0.5 level. Currently, the trend suggests it should form another lower low. I anticipate it may test the 2349 level, which is the Fibonacci 0.618 level, and potentially form a new lower low at the Fibonacci 1.272 level, around 2242.
Choughle
The BTCUSD one-hour chart indicates divergence and is currently exhibiting a bullish trend.
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