Price touched the previous weekly high at 1820. It has formed a bearish divergence on the 4H. Price and RSI have been in a rising wedge and and breakout should be very soon. Target of rising wedge is 1550. If price reaches that level and bounce it will form the handle of a fairly large cup and handle pattern.
Since gold and BTC have been correlated a drop will translate into a drop in BTC, but BTC will drop harder since the BTC to XAU ratio is downtrending at the moment.
Since gold and BTC have been correlated a drop will translate into a drop in BTC, but BTC will drop harder since the BTC to XAU ratio is downtrending at the moment.
