Judging from the current market, on the daily timeframe, after XAU previously surged to and peaked at around 4700, it has been under pressure and continuing to decline. Price is trading below the Bollinger middle band at 4424, and the Bollinger Bands are opening downward in a divergent manner. Bearish volume continues to release; the larger-cycle uptrend structure has already been broken, and the market has entered a downward phase.
4-hour timeframe: the highs keep making lower moves, and overall price is trading within a descending channel. Price pressure remains below the Bollinger middle band, with the Bollinger Bands opening downward. Bearish momentum continues to release.
1-hour timeframe: after probing the 4331 low, it then made a slight sideways consolidation with weak recovery. Price is still capped below the Bollinger middle band, and the Bollinger Bands are narrowing (closing) toward each other. In the short term, there is some potential for a modest rebound, but the rebound strength is insufficient overall, and the room for recovery is limited.
Overall outlook:
The larger-cycle bears have the upper hand, so operations should primarily focus on selling into rebounds at higher levels.
When rebounds reach the 4380–4410 area, go short, targeting 4330–4250. If it breaks down, then follow the trend and look toward 4200#比特币四周内第三次单块重组 $XAU .
4-hour timeframe: the highs keep making lower moves, and overall price is trading within a descending channel. Price pressure remains below the Bollinger middle band, with the Bollinger Bands opening downward. Bearish momentum continues to release.
1-hour timeframe: after probing the 4331 low, it then made a slight sideways consolidation with weak recovery. Price is still capped below the Bollinger middle band, and the Bollinger Bands are narrowing (closing) toward each other. In the short term, there is some potential for a modest rebound, but the rebound strength is insufficient overall, and the room for recovery is limited.
Overall outlook:
The larger-cycle bears have the upper hand, so operations should primarily focus on selling into rebounds at higher levels.
When rebounds reach the 4380–4410 area, go short, targeting 4330–4250. If it breaks down, then follow the trend and look toward 4200#比特币四周内第三次单块重组 $XAU .
