📊 $XAU / USDT — 4H
XAU is trading around 4561, and from the current market structure it’s obvious the chart has been trending bearish. Gold has been crashing, and price has consistently been giving lower lows. What I’m watching now is how price reacts when it taps into the 4690.39 supply zone above. This area has been a strong reaction point for breaking structure downward, and if buyers fail to break through, I’m fully on the bearish side.
Key Levels
4561 — current price
4690.39 — supply zone / reaction point
4124 — major downside target
Market Structure
Gold remains in a clear bearish trend, with lower lows confirming continued weakness. The next important move is how price behaves when it reaches the 4690.39 supply zone. This level has previously triggered strong bearish reactions and structure breaks. If price rejects this zone again, it would align with the broader bearish momentum and open the move back toward 4124.
Outlook
The reaction at 4690.39 will determine the next leg.
A strong rejection keeps the bearish trend intact and sets up continuation toward 4124.