Hello traders how is everyone doing? It's been some good times this week trading the financial market, and to be candid we can tell that the week wasn't easy with gold closing the week bearish as Bitcoin try to survive from the recent drop in price.
This week, the market as been so volatile with some kind of bearish outlook. So some crypto folks think it could be as the result of the combat between two powerful men; Elon and Trump. Well, what do you thing of that?
Market always react to real world happenings most especially when it involves influential individuals. However, The effect is usually short-lived.
So we will make a review on this week gold market behavior, from the the week opening to the closing. But before we dive into that, let us first do a quick check and analysis on Bitcoin market behaviors.
BITCOIN MARKET;
Following the 4 hour time frame we can see that bitcoin made a move upward to about $110,500 on 27 MAY, 2025, from where we found a strong resistance leading to the drop in price to about $100,300 price level on the 06, June 2025, from the where we found support, buyers got in and price moved slowly upward and currently as at the time of writing, the price of bitcoin was at $105k.
However, bitcoin is experiencing difficulty to break pass this price level at $105k.
WHAT TO EXPECT:
If, we can break through the $105k price level, we will be heading to $111k price level, price will find resistance at this level. Should we successfully break through this level, we will be heading to $128k. But if price can,t break through 105k level, price might drop drastically to takeout $91k, from there we might find support.
currently, I have noticed increase in buy volume. so personally, I perceive that Bitcoin might hit $128k, following this increase. Not a financial advise, its my personal opinion.
Let us now make a review on this week gold market behavior, and what we can possibly be expecting in the coming week.
GOLD MARKET REVIEW:
Gold opened this week with the price of about $3,300, after closing last week bearish at 3,289 price level. Leaving a gap that hasn't yet been filled, moving impulsively to $3,392 price level, from where we had a quick drop in price to the price of $3,333 price level.
There buyers stepped in and took it up to about $3,403 price level. Gold dropped impulsively from this price level closing the week bearish at the price of $3,309.
WHAT TO EXPECT IN THE COMING WEEK:
Gold has closed the week without filling the gap. What we should be expecting at the open of next week is a gap down to filled the last week gap which appeared inefficient at the price of $3,296, where we might find support and possibly impulse up, beginning a new week with some good highs.
However, if we find difficulty breaking through $3,316 price level, gold might keep dropping lower. Thus it necessary to keep an eye on this key price levels so as to make some good market decisions.
NOTE: This analysis is completely technical and no consideration to fundamentals. Therefore there is a need to make your own research before jumping into trading ideas, being fully aware that trading financial market carries a very high risk of losses, even most of your capital if not all. please do your own research. Thanks for stopping by.
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