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$BTC
Despite the "bloodbath" we saw in some sessions last week, gold still refuses to break down.
The chart tells us the story of an upward trend (Trendline) that started strongly since breaking through in September, and the price continues to dance confidently above this line, confirming that the fundamentals remain solid despite the sideways noise.
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What does the "microscope" tell us technically?
If we look deeper beyond the candles, we will find indicators that no investor can miss:
Testing the moving averages:
The price touching the 21-day moving average last Friday was no coincidence,
but an attempt to "test the waters" of buying strength,
which proved its presence at this level.
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Historical support:
The 200-day moving average sits far at around $3,800,
giving us an impression of the distance gold has traveled upward,
and making any current correction just a "rest for the warrior" that does not change the overall trend.
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The ascending channel:
We are moving within a sharply inclined channel, and this type of ascent always requires fundamental momentum (Fundamental) to continue,
otherwise, healthy technical correction is the safety valve for the market.
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Summary:
In the world of investing, the difference between "panicked" and "opportunist" is the ability to read the big trend amid small fluctuations.
Currently, gold is experiencing a state of historic momentum;
while some see temporary pullbacks as a danger,
professional traders see them as opportunities to retest support levels and build new positions for those who missed the $4,000 train.
Gold does not spare the weak,
but it rewards those who can calmly read the technical roadmaps.
Do you think that touching the current moving averages is the last entry signal before the next peak, or does the market have another opinion?
Waiting for your insights,
And for continuous technical analysis updates