Sellers are completely in control across all timeframes. The price just broke through major moving averages, making the immediate outlook pretty bleak.
The biggest thing to watch right now is the RSI—it has crashed all the way down to 2.33 on the hourly chart. This means the market is extremely oversold. While the trend is heavily downward, an RSI this low usually triggers a sudden, temporary bounce as short-sellers take profits.
Personal Tips
Keep an eye on the 24-hour low at 4,168.27 USDT. If that floor snaps, expect another quick drop. If you're trading this, keep your stop-losses tight because the volatility is going to be brutal.
XAUTUSDT
Perp
4,160.71
-0.42%