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$PAXG
Gold Current Update
My view on Gold hasn’t changed, although whenever I see a short buy confirmation or breakout I play the move small move, the higher it pushes, the more violent the coming correction could be.
Since the 3300 bottom, Gold has rallied almost vertically. From 26 Aug onward, except for one red candle on 4 Sep, every single day closed green with gains of 1% or more. This kind of one-sided move is powerful, but it’s also unsustainable.
Market psychology is clear here: late buyers are chasing from FOMO, sellers are squeezed, and tension is building like a coiled spring. When there are no buyers left at higher levels, even a small sell wave can trigger a sharp correction. History shows.
Now sitting around 3647 after printing a 3660 ATH, the question is whether this is the local top. Hard to say, but for me, no valid buy setup exists until a healthy correction plays out. Only small moves with confirmation.
#AltcoinMarketRecovery
Gold Current Update
My view on Gold hasn’t changed, although whenever I see a short buy confirmation or breakout I play the move small move, the higher it pushes, the more violent the coming correction could be.
Since the 3300 bottom, Gold has rallied almost vertically. From 26 Aug onward, except for one red candle on 4 Sep, every single day closed green with gains of 1% or more. This kind of one-sided move is powerful, but it’s also unsustainable.
Market psychology is clear here: late buyers are chasing from FOMO, sellers are squeezed, and tension is building like a coiled spring. When there are no buyers left at higher levels, even a small sell wave can trigger a sharp correction. History shows.
Now sitting around 3647 after printing a 3660 ATH, the question is whether this is the local top. Hard to say, but for me, no valid buy setup exists until a healthy correction plays out. Only small moves with confirmation.
#AltcoinMarketRecovery
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