Oil And Bitcoin are Undergoing Strategic Correction
Having jumped, Bitcoin got back to the supporting level of 28600 to retest it. It’s also noteworthy that the price of Bitcoin might also drop to the level of 25000 and then only jump. The general sentiment points to the fact that Bitcoin should jump soon. So, it is worth observing what is going to happen next.
As it can be seen from the daily timeframe, gold is trying to form a bullish flag to signify the continuation of the current ascending trend. Presently, the asset can only approach the downtrend away from which it might drop. For now, gold is on the rise.
Oil has approached the level of 120 (121) and formed a beautiful bearish engulfing. The latter might signify the upcoming price drop to the level of 101 and retesting of the broken line of the reversed fan.
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