Gold has broken through 3399 dollars, approaching historical highs! A symmetrical triangle is brewing a significant breakthrough, and Bitcoin's safe-haven attributes are simultaneously reinforcing follow.

Gold prices surged to $3399 on Wednesday, testing the key resistance level at the upper band of a symmetrical triangle. Technical patterns indicate a breakout is imminent, with an upward target pointing to the historical high of $3500 and above. This article analyzes the bullish momentum of gold in conjunction with the support of the 20-day moving average and weekly reversal signals, while comparing Bitcoin as "digital gold" in its correlation performance during risk-averse sentiment, providing investors with a cross-market trading perspective.

[Gold Technical Analysis: Symmetrical Triangle Approaching Breakthrough Critical Point]

Gold prices reached a 12-day high of $3399 on Wednesday, successfully breaking through the previous day's high of $3394, forming a short-term strong pattern. The current price is approaching the resonance pressure zone formed by the upper band resistance of the triangle and the recent swing high of $3409. If the daily close can stabilize in this area, it will confirm bullish momentum and pave the way for a challenge of the historical high.

[Pattern Analysis: The consolidation lasting for several weeks is about to end]

(Source: TradingView)

Gold has been consolidating within a symmetrical triangle for several weeks, reflecting a phase of accumulation before a trend breakout. As the price approaches the shape's apex, the probability of a directional breakout in the coming week significantly increases. Considering the long-term bull run pattern of gold, an upward breakout remains highly likely, but investors should be cautious of potential short-term fluctuations before the breakout.

【Target Price Level System: Measurement of Moveable Space After Breakout】

After successfully breaking through the upper band of the triangle, the first target for gold points to the psychological level of $3500, and the second target looks to the technical level of $3578. If the closing price effectively breaks through this area, it will trigger a new round of buying, pushing gold prices to continue the bull run that has lasted for several months. Currently, the 20-day moving average continues to rise and provides dynamic support, building a technical foundation for the breakout attempt.

[Risk Warning: False Breakouts and Support Defense]

Despite the bullish technical outlook, caution is warranted regarding false breakout risks. If the price is blocked at the resistance level or returns inside the triangle after a breakout, it will negatively impact market sentiment. Key support to watch is the lower band of the triangle and the swing low of $3311. A daily close below this area will weaken the bullish thesis and delay the process of making new highs.

【Weekly level confirmation: Larger cycle support breakthrough narrative】

Gold has completed a weekly bull run reversal signal by breaking through $3379 this week. If Friday's close can hold this position, it will strengthen the bullish structure on a larger time frame, increasing the probability of an upward breakout from the triangle, providing technical support for the continuation of the trend to challenge new highs in the medium to long term.

[Bitcoin Correlation Analysis: Capital Flow Among Safe-Haven Assets]

◎ The positive correlation between gold and Bitcoin strengthens

As gold tests key resistance, Bitcoin remains stable above $112,000, with both benefiting from rising global risk aversion. Data shows that when gold volatility increases, Bitcoin has a 68% probability of moving in the same direction within the subsequent 72 hours, reflecting the synergy of the safe-haven properties of digital gold and traditional gold.

◎ Change in institutional capital allocation strategy

The world's largest gold ETF (GLD) has recently seen inflows, while Bitcoin spot ETFs have experienced net inflows of $186 million for three consecutive days, indicating that institutional investors are simultaneously increasing their holdings of hard assets to hedge against macroeconomic uncertainties. Expectations of Federal Reserve interest rate cuts and geopolitical risks have jointly driven this allocation trend.

[Key Position Monitoring]

Gold:

Resistance level: 3409 (immediate), 3500 (psychological level), 3578 (technical target)

Support levels: 3379 (weekly benchmark), 3311 (swing low), 3280 (triangle lower band)

Bitcoin:

Linked resistance levels: 115000 (50-day EMA), 120000 (previous high)

Support levels: 110000 (psychological level), 105000 (technical resonance zone)

[Trading Strategy Suggestions]

Breakthrough traders can gradually build positions after gold closes above $3410, targeting the $3480-3500 range, with a stop loss set below $3370. At the same time, closely monitor Bitcoin's test of the $115,000 resistance level; if both form a breakthrough resonance, it will significantly enhance the strategy's win rate.

[Conclusion: A New Era of Synergy Between Precious Metals and Crypto Assets]

The technical breakout for gold is imminent, and Bitcoin's safe-haven attributes are simultaneously strengthening, reflecting that global investors are responding to macro uncertainties through a diversified hard asset portfolio. It is recommended that investors adopt a gold-Bitcoin correlation hedging strategy to seek a balanced allocation between traditional safe-haven assets and digital value storage tools, seizing cross-market linkage opportunities.