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Bitcoin priced in gold halts downward move at congestion area, Patrick Karim notes

Bitcoin priced in gold halts downward move at congestion area, Patrick Karim notes
Bitcoin gold pair stabilizes at key level

Patrick Karim, technical analyst at Technical Traders Ltd, comments on Bitcoin's movement relative to gold. Downward momentum in the Bitcoin-gold pair has paused after reaching the identified "dome" target and breaking out, with price now sitting at a congestion area. Karim adds that conditions remain favorable as long as the rising momentum is maintained.

Karim has previously discussed where he sees higher probability setups, stating that such opportunities were present in oil rather than gold or silver in recent comments. He has also examined whether chart analysis could have anticipated turbulence in the bond market, questioning its predictive value during the recent bond market implosion. His analysis spans multiple asset classes and technical approaches.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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