🚨Bitcoin and gold are rising together—this is not that simple!
First, look at the data: $BTC
24-hour low: 76,237; high: 78,831; currently hovering around 76,840. RSI(6) is only 27.1, severely oversold.
Gold $XAU
4,610, approaching the previous high of 4,635. Bitcoin's RSI is already at 27, yet it is still holding near the highs. What does that indicate? Selling pressure is nearly gone.
💡Why?
On August 19 US Eastern Time, the Treasury Department suddenly announced that it would double its buyback of long-term bonds with maturities of 10–30 years from $2 billion to $4 billion. The 30-year US Treasury yield immediately plunged from 5.33% to 5.18%. Bridgewater's Ray Dalio directly urged investors to underweight bonds, allocate 10%-15% to gold, and hold some Bitcoin.
In plain English: Treasuries can no longer be trusted, and money is flowing into gold and Bitcoin.
📊How should you trade?
The upper Bollinger Band around 78,800 is resistance for BTC, while 76,500 near the middle Bollinger Band is support. It is oversold, but the fact remains that it failed to break through 79,500.
· If you hold spot: Hold as long as 76,500 holds, and look toward 78,800-79,500
· If you want to enter: Try a small position on a pullback to 76,200-76,500, with a stop-loss below 75,500
· For short-term trading: Sell high and buy low within the 76,500-78,800 range; don't get greedy
For gold, don't chase above 4,600. Wait for a pullback to 4,570-4,580 before reassessing.
⚠️One reminder: Treasury buybacks are not QE, and pressure on long-term rates remains. This move is a short-term sentiment recovery, so don't go all-in as if it were the start of a bull market. Position for Musk's Doge—it is about to launch!
👇What do you think? Can BTC break above 80,000 this week? Let's discuss in the comments
#BTC突破$77000 .