[Daily Market Analysis] August 20 GOLD ＆ BTC

Hello everyone, this is "LONCH FX".
Today (August 20) we bring you the latest report considering the situation where GOLD and BTC both surged vertically in response to yesterday's expanded U.S. Treasury debt-buying and the sharp dollar drop. We hope it can serve as a reference for daily market environment awareness and chart checks.

1. Overall Fundamental Environment

? Lower interest rates due to doubling of U.S. Treasury bond purchases

With expectations of expanded dollar liquidity due to the suppression of long-term interest rates, a record inflow of funds into GOLD and BTC occurred as U.S. long-term rates declined.

⚡ Rapid dollar drop and short-cover rebound

As the dollar weakened, short positions accumulated near major resistance lines were liquidated (shorts were forced higher), accelerating the vertical rise.

2. GOLD (XAU/USD) Analysis

Current price: about 4,514 - 4,516 USD

• ■ Daily chart (D1) | Breakthrough of resistance and rise into the high-price region
  Breaking through the red downward trend line with a strong bullish candle, briefly rising to the 4,520s high region.
• ■ 4-hour / 1-hour charts (H4 / H1) | Vertical ascent and resistance-turned-support (roll reversal)
  After breaking past key levels (4,440 - 4,450 USD), price extended without a pullback. Currently seeking a base in the high 4,500s to 4,520s.
• ■ 30-minute / 15-minute charts (M30 / M15) | Consolidation near highs
  After the surge, price has entered a consolidation phase; it will be key whether the previously broken resistance band (4,475 / 4,445 USD) acts as a strong support on pullbacks.

3. BTC (BTC/USD) Analysis

Current price: about 69,500 - 69,550 USD

• ■ Daily chart (D1) | Complete breakout above the range with a bullish engulfing candle
  From a 64,000s range, it surged dramatically, breaking the long-term downtrend line and major resistance around the 67,000 level to form a historic large bullish candle.
• ■ 4-hour / 1-hour charts (H4 / H1) | Strong upside momentum and test of 70,000 USD
  Rapid ascent beyond 69,500 USD in a short time. A strong trend is drawing in short-covering by sellers, creating a powerful move.
• ■ 30-minute / 15-minute charts (M30 / M15) | High-price range and pullback search
  Holding in the 69,000 - 69,800 USD range. The focus is whether pullbacks near 67,800 - 68,000 USD can be supported as price attempts to push toward the 70,000 level.

4. Today's Summary (August 20)

August 20 sees both assets in a strong breakout phase with buying leading the way.

? Key for GOLD (XAU/USD)

Maintaining the big 4,500 level while aiming for a new high. The strategy centers on watching for a breakout of 4,500 with retracements turning into support near 4,475 / 4,445.

₿ Key for BTC (BTC/USD)

Rapid rise toward around 69,500 USD, with the psychological 70,000 USD level in sight. While watching for possible sharp pullbacks due to overheating, a preferable approach is to identify pullbacks around 68,000 USD.

[Disclaimer]
This article provides objective analysis and information on charts and market data and does not constitute recommendations or advice for specific buying or selling actions.