If Gold closes a weekly candle above 4,150 it's actually going higher quite unfortunately for me. I seemed to have missed this trendline that never actually truly touched, and is in a bigger timeframe than I expected. Gold mania is too high. I estimated and said gold would top at (around) 4,150. So far this statement still holds true unless conditions change. If you can recall my LINK chart it's pretty much the same for all assets. They have different resistance levels that will be reached if the previous one fails to cause a dump. (In short it means market participants are overwhelming algorithms)I don't know who is mass buying gold but they're doing a good job at it. I am at a bit of a loss here and will accept that I'm wrong if it does close the weekly above, however for the retards in the back the line will not "go up forever". Gold is overbought in literally every single timeframe, and is on it's final acceleration up angle. It's not sustainable.>muh gold is a different asset, muh stacking, muh intrinsic valuethe only thing different about gold is how much time it has been traded for. I failed to account for the fact that gold has a chart that goes back thousands of years opposite to stocks and crypto. If the lines I have posted & updated break *then* you can really claim gold is the future.
to add to this what I said about btc going to 130k still holds true and today was just a trading hour shakeout. there was a gap that needed to be filled at 110k, it's now done that. It could take half a week more though.
>>61117766>I don't know who is mass buying gold Imagine listening to this fucking idiot who doesn't even understand the basis of his claims
>>61117789I thought I had written what I meant correctly. I rectify. I don't know who is mass buying gold *at the top*. If you can't recognize a chart pumping like a penny stock/shitcoin then I can't help you with that.
>>61117789i know right lolfuck btcbuy gold and silver
DR;NS
>>61117805it's not the top, doofus
>>61117805Central banks don't give a fuck about "tops" and technical analysis. You think China and India are going to sell gold for dollars on the eve of quantitative easing? Jesus Christ lmao
>>61117818>the government will buy my bags because they just willwhere have I seen this one before kek. I got to give it to you goldbugs you are toughest ones to convince in the entirety of finance. So much blind belief in your investments when a chart like goldbtc exists
>>61117766Sure looks like it will pump to around 10k, dump to retest 5k and settle around 7500.
>>61117766it doesn't have a thousand year chart, it began to trade freely in 1971
>>61117833You're so wrapped up in your charts, that you forgot to check your fundamentals. Globalization is over. Countries outside of the SWIFT system have been slowly exiting the US dollar. They're buying the reserves they need to function independently from the west in the form of gold and at a discount. Central banks don't have to play by the rules of the market. They just create the currency they need, and buy up the gold. China has been doing it for a decade or more. They buy regardless of London's "spot" price with some brief pauses every now and then. You're watching a constantly elevating floor and all your charts will break under the false assumption that they would eventually want to sell.
>>61117833this is the bitcoin gold chart btw
>>61118141get fuckin rekt, bitchcoin
>>61118141line should be here
>>61117766>I failed to account forNo problem OP. I really appreciate the time you take to lay your thesis out. Do you think BTC is 8 weeks behind gold? Thank you for all of your threads.
>>61118141>>61118253Zoom out and go to logarithmic.
>>61117833The US Treasury is planning on rolling out 50 year gold backed treasury bonds next year. Not 50 year BTC backed treasury bonds.
>>61117766Gold will steadily go to 15k.Crypto is currently dead in the water because of leverage traders (mostly third worlders) and now risks dumping completely due to the fact that these leverage traders aren't being removed from the market.
>>61118281Now THIS is some TA.
>>61117886Where do you think silver comes into this? Will it stay permanently neutered? The closing of the ratio would lead to a mass transfer of silver to gold, right?
>>61117805Brother it's not the top
>>61117766Buy gold OP.>>61118340Silver will chase after gold like a scorned lover and gold will keep running away like the strumpet she is.
>>61117766any link update anon kun?
>>61117766>I don't know who's mass buying goldHoly shit. Its central banks. Schiff has been screaming this shit for 2 years. Russia had is money stolen by europe while retard presidents spent trillions on bills like inflation reduction act and the BBB. They are trying to leave the dollar. Perfect example of chart reading missing macro reality.
>>61117766>I don't know who is mass buying goldChina?
>>61117766We have not seen true price discovery yet. Every market is "rigged" but metals are super rigged. >>61118399Yes but you cannot austerity your way out of $37T debt. I prefer OBBB spending on ICE deportations, over Inflation Reduction Act spending on climate change and DEI.
>>61118340The US demonetized silver after the Civil War, and it seems to have stuck globally in the following century. There's no bank reserve demand for it, so you don't see the same historic price ratio. Silver has always been the money of the masses, so the dollar itself would have to die for there to be significant monetary demand for it to become currency again. It will definitely gain a lot of nominal value compared to the spot price it has now, and will probably continue to do so for years, so it's a good hold in the medium term. Whether that holds long term or not, I couldn't say.
Actually I take that bank about "no" bank reserve demand, because Russia and Saudi Arabia have been adding it to their reserves over the last few years. Saudi Arabia even bought large shares of SLV which says monetary demand more than industrial to me, but I don't know if they intend to claim for physical delivery of those shares or not.
>>61117766Do you also have one for silver?
>>61117766your lines are completely fucking random. it's the worse ta i have ever witnessed
>>61119331How so? Do you even know the tool he is using? Its usually a very accurate tool. And its not random, he is choosing important historical pivots.
>>61119354its a pitchfork and he is using it all wrong, its retarded TA, just start with fibs if you dont know what you're doing
>>61119358So you think its not a good tool or that he is using it wrong?
>>61117766Has the stock market crashed? No.Kas WW3 begun? No.Are jews being hunted down in the streets? No.Then Gold will keep rising even if it hits 100k weimar goybucks.
>>61119253Only fibonacci analysis and I don't trust much confidence to it. Silver broke to the upside the last trendline I could find a while ago (circa 4 months). As I wrote this I got curious and analyzed it again. It found heavy resistance same as gold at this current level, so the ratio is presumably fixed where it is now and not going higher. Also keep an eye at 98 per oz if it breaks above. I will actually give an update once I come back home.>>61118383It's gonna retest $32, previous chart holds true still. $43 or so comes after.
>>61117766>using TA on an inflationary macroeconomic crisisFucking retard, kys.
>>61120144Nice, I have similar targets. I wonder if silver is going to break through and we get mass fomo to almost 100 bucks. Would be insane, but I dont rule it out in this environment
>>61118375GSR is going down, moron
>>61120202Here it is. As you can see, $49 was respected and dumped. I have found a line that touches perfectly at the current price level. If silver gets above $60, it's going for the retest of the $49 which is now at $100. I doubt this immensely though.
>>61120849btw and this is my last post in this thread and for a bit of a while until november, it's not just "a line" as some retard implied. it's not random, and it's not as many fib "analysts" do. it's easy to make up technical analysis convenient that it hits a level. it's why you see me post them before the move happens. I missed silver and since I don't trade it I didn't spot this line. However this newfound confluence says that both gold and silver have topped at these current levels. I am watching excited. See you all.
>>61120880>I didn't get in on this clear win because I couldn't see it>but now that I am paying attention it's definitely done and nobody else will win, because I can'tSorry m8 but the entire fundamentals of modern economics (MMT) is being shaken out by real tangible goods.
Guess you have to factor in fiat starting to inflate exponentially and governments lying about this fact. The PM charts arent that surprising if you factor in a world wide debt crisis and fiat turning to toilet paper fast. I'd say 10k gold and 200 silver are fud and I'm not even memeing.
>>61120934true
