peterbokma

GOLD is still controlled by the bulls, but am very cautious about this, since we are very overbought and the correction towards $ 2,750 is very plausible, but not in short-term time frame though, is my personal viewpoint. Indicators are positive still but the market status warns we should take care on long side. Strategy SELL @ $ 3,625 - 3,675 and take profit near $ 2,975 for now.

The longer-term picture clearly shows we are overbought on the extreme side, and a major correction is imminent. However, short-term we are still positive, but for those that are able to trade medium-term to long-term, scaling in slowly on sell side may be a reasonable strategy to have. Strategy SELL between $ 3,500 - 3,800 and take profit near $ 2,850 for now. This should be carefully done with proper levering and scaling in, is my personal viewpoint.

It has some short-term upside and I feel we may get to $ 4,750 before we will move south again. Overall, I think it may test $ 3,750. Strategy SELL @ $ 4,650 - 4,800 and take profit near $ 3,850 for now.

The medium-term is very overbought and still feel $ 2,750 attainable.Short-term we should see $ 3,350 area initially. The move beyond the channel is unsustainable is my personal view. Strategy SELL (or add) @ $ 3,510 - 3,575 area and take profit near $ 3,375

Short-term maybe slight upward pressure, but from a medium-term basis, I feel we may see $ 3,750 again. The indicators are negative, and there is room within the Reg. Channel to see lower over-time. Strategy SELL $ 4,400-4,800 and take profit near $ 3,780 for now.

It is time go south and a lot more than people would expect, is my personal viewpoint. We have negative indicators, and the overbought state, shows we may see $ 75k area. The monthly chart potential correction is around $ 75 - 65k area. Strategy SELL (or add) @ $ 107 k - 115k and take profit initially @ $ 85k.

My personal opinion is that GOLD may decline around 20% in the coming months, i.e. 3-6 months as its overbought and also way above the Reg. Channel. The metal needs to correct the overbought state it is in, and also I believe its a general adjustment of asset classes like crypto, to normalize, and everything else will be dragged with it. Strategy SELL @ $ 3,250 - 3,500 and take profit near $ 2,750 for now.

BTC is starting to behave southwards. We reject $ 125K hampered by $ 130k GANN resistance. Now we are in negative territory and I feel we may see $ 90k test in the near term. Strategy SELL @ $ 110-120k and take profit initially at $91k area. Overall we may see move lower towards $ 75k.

I understand the hype we are witnessing and still the same issue as history, but setting that aside, technically we have a good chance to see a larger decline back towards $ 90k and even $ 50k seems possible providing we break $ 90k area confidently. The overbought status, and high in the top part of the reg. channel, and above KC does not bode well. Strategy SELL @ $ 115-125 range and take profit near $ 90k or lower.

Overall view is still the same for me. Yes, it can spike, but the overbought status and slope of the reg. channel suggest we may see a test of $ 3,935 area en route $ 3,500 is my personal view. It is clear the world sees crypto in the light of being an asset and the banks are starting to embark this same route I wish to note that history does repeat itself, and from a trading perspective it is fine to enter trades in it, but always remain alert, especially we should understand what the real value of assets are. In the meantime I see the strategy SELL @ $ 4,400 - 4,700 and take profit near $ 3,850 for now.