COMMOTRENDZ

In Gold spot chart. I am seeing squeeze at higher level on daily time frame. its not good for long. having triple negative divergence too. Next chart is of Dollar Index having squeeze at bottom levels. good for longs. So analysis matches with counter trend in GOLD/US DOLLAR INDEX. I am bearish in GOLD for now CMP 1800 will see 80-130 $ down side upto 1690-1670 zone for now. any longs need protective Stop loss.

Bitcoin gave lows so far 20800 zone today. Our target was 20k. Would like to see more pain in Bitcoin if able to give 2 weekly close blw 20k zone will see more pain and stronger fall as it will be 200 sma support broken. Can see level of 12-9k in coming months.

if that happens Bitcoin will be available in BITS and loose coins too.

More this is what happens when there are no real assets behind the financial instrument. When buying stocks you buy into the company profits and assets such as factories, plants, real estate holdings, patents, etc. when you buy bitcoin or any other crypto you are just buying into a belief that you would find a greater fool then you to sell this crypto for a higher price then you originally bought. But people get smart quickly from learning from each other and suddenly nobody wants to buy it from you at a higher price

Gold on crucial zone watch now 1790 for now. If you are long stay cautious n keep your STRICT STOP LOSSES for safe trade. Weekly close 1811. Weekly low was 1798.