Are Bitcoin bulls about to join the gold market grind
Gold spot prices have rallied to $1930. The chart below is an update to the re-occurring chart I have been showing on the 4-hour time frame. Note how price is finding resistance exactly at the minor trendline within the channel. Prudent traders could be satisfied with the quick win from $1905.
That said, the adage is to let a winning trade play out and the weekly chart displayed below is showing signs that a turn maybe near, with momentum about flat-lining and price still well supported around the $1900 level. If you are a stacker and are prepared to be wrong in the event of another leg down to $1850, this may be a spot to add a tranche.
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