$XAU has fallen to the key zone; begin positioning
4,130—4,230 is close to the upper edge of the prior consolidation area, and also the zone that price passed through during the previous uptrend breakout. When price returns here, focus is on “old resistance turning into new support.” At the same time, a previously broken downward trendline is nearby, creating a confluence of technical levels.
Longs:
Place long orders in batches at 4,130—4,230. During the move, watch the resistance at 4,400—4,500. The main target is 4,700. After breaking the previous high, then look at 4,800.
$BTC : A rebound doesn’t equal a reversal—I’m waiting for it to truly break out
After pulling back from above 87,000, the rebound highs have kept making lower highs, and price is still capped by the downward trendline. Below, 82,000—82,300 is near the prior upside breakout area: hold it, and there will be a foundation for the rebound. If it breaks down effectively, it would mean that the support after the breakout has been lost, increasing the risk of further pullback.
Longs:
Wait for a 4-hour effective breakout of the downward trendline. Ideally, it should also reclaim 84,600—85,000. After a pullback and confirmation of holding, go long; first look at 87,200.
Shorts:
If the 4-hour candle closes below and breaks 82,000, then go short.
Targets: 77,000—75,000
Stop loss: 84,000
4,130—4,230 is close to the upper edge of the prior consolidation area, and also the zone that price passed through during the previous uptrend breakout. When price returns here, focus is on “old resistance turning into new support.” At the same time, a previously broken downward trendline is nearby, creating a confluence of technical levels.
Longs:
Place long orders in batches at 4,130—4,230. During the move, watch the resistance at 4,400—4,500. The main target is 4,700. After breaking the previous high, then look at 4,800.
$BTC : A rebound doesn’t equal a reversal—I’m waiting for it to truly break out
After pulling back from above 87,000, the rebound highs have kept making lower highs, and price is still capped by the downward trendline. Below, 82,000—82,300 is near the prior upside breakout area: hold it, and there will be a foundation for the rebound. If it breaks down effectively, it would mean that the support after the breakout has been lost, increasing the risk of further pullback.
Longs:
Wait for a 4-hour effective breakout of the downward trendline. Ideally, it should also reclaim 84,600—85,000. After a pullback and confirmation of holding, go long; first look at 87,200.
Shorts:
If the 4-hour candle closes below and breaks 82,000, then go short.
Targets: 77,000—75,000
Stop loss: 84,000