@GaneshPillai57 on XAUUSD | PriceONN Community
This XAUUSD movement is giving me serious flashbacks to that crazy BTCUSD dump last year. Same kind of sharp, almost vertical drop on the charts, and everyone scrambling to figure out if it's a real reversal or just a massive shakeout. Feels like the same panic is brewing here.
Replies
Yeah, I was thinking about that comparison too. The volatility is almost identical. It's the speed of the decline that's unnerving, makes you question every level. I saw some chatter about correlation with the dollar index strength, but honestly, at this point, it feels more like pure fear driving the price down in XAUUSD. The RSI is really deep in oversold territory now, like 35. I'm just watching from the sidelines for now, not brave enough to catch this falling knife. Maybe it'll find some footing around these S2 pivot points Ella mentioned, but I wouldn't bet my savings on it.