Jinchen prediction for gold trading on Monday, 6/29 (for reference only).
With the month nearing its end, bearish selling pressure has basically been released. Going forward, the market will mainly see a rebound through low-range consolidation, and the probability of refreshing new lows is relatively low.
On Friday, the gold price dipped to 3983 and then quickly surged to close with a long lower-shadow bullish candle. Low-level support has been firmly established, and a short-term bottom appears to have formed.
Geopolitical developments remain a sustained positive: escalation of conflict in the Middle East and ongoing tensions between Iran and the US. Continued risk-aversion sentiment supports gold prices, and the room for a large downside move is compressed.
Key range for next week: 4030—4100
1. 4030 is the line that determines the strength of bulls vs. bears. If it is effectively broken below, downside testing of support at 3950 may follow.
2. 4100 is the key strong resistance for this rebound. If price holds above this level, the upside room for longs will be fully opened.
Overall approach: focus on buying on dips. On pullbacks near the key pivot levels, prioritize planning long positions. Before 4100 is broken, if the market is under pressure at higher levels, you may consider a small short position—but keep strict risk control and do not chase rallies or sell impulsively.
On Sunday daytime, the market overall traded sideways with fluctuations within a range. After the morning price reached around 60,300, it pulled back to about 59,700. In the afternoon, it rebounded to near 60,500, then dropped again and consolidated around 60,000.
From a technical pattern perspective, the daily chart formed a doji, indicating that short-term bullish and bearish forces are relatively balanced. The weekly chart shows an incremental bearish candle body, suggesting that within the week, bearish momentum still has the upper hand.
On the four-hour timeframe, there was a bearish candle with a long upper shadow, indicating clear resistance overhead; after the bulls attempted to push higher, they met resistance. On the one-hour chart, signs appeared that bullish momentum shifted from contraction to increasing momentum—there may be some short-term rebound energy. However, overall it is still influenced by the larger-cycle bearish trend, so caution is needed: after any rebound, if the upward strength is limited, price may come under pressure again.
Trading Plan Suggestions:
Bitcoin: Around 60,500–60,800, consider selling (箜). Look for downside toward 59,500–59,000.
Ether (2nd coin): Around 1,585–1,600, consider selling (箜). Look for downside toward 1,550–1,530.
The market signals have already been clearly explained: the trend has completely weakened, rebounds are all designed to lure shorts, the daily line has broken support and turned it into resistance, and all indicators are bearish across the board. There are currently no signs of a bottoming reversal. A choppy downward drift is the main theme.
On Saturday, the overall market was in a range-bound oscillation. When the comparative price was around 58,300, the dong-tou (head/driver) force pushed slowly upward to around 60,900. After hitting resistance, it fell back to around 59,800.
On the daily level, the kong-tou (head) force has strengthened. The candlestick shifted from bullish to bearish, closing as a bearish candle with an upper shadow. On the four-hour level, the tou-head momentum contracted. On the hourly level, a downward-crossing trend is gradually forming, and the current price is trading near the lower band. Overall, in the short term there are signs of a shift in the dong-kong (driver/head) forces; pay attention to whether the market breaks out in the next range direction.
Trading Suggestions:
Big Cake: Around 60,300–60,500 kong; look for a drop to around 59,300–59,000
Second Cake: Around 1,585–1,600 kong; look for a drop to around 1,550–1,530 #BTC☀
Jin Chen never plays the “later cannon.” He lays out the strategy for the Silk Road in advance. Right or wrong is decided solely by today’s forecasts—after the fact, he never turns into a “post-event strategist.” You can trust it; the reliability is visible.
The current large cookie is in a range-bound consolidation with shrinking volatility. In terms of trading, you can set up a position around the 60,500 area using a quick order, with the short-term target first looking at around 59,500. If that level is not broken, you may consider going long in reverse. In the absence of any special sudden events, you can trade based on the range-bound approach; at the same time, set a stop-loss to manage the risk of a possible breakout.
From the 4-hour chart perspective, the bearish-dominated trading structure has not changed. After a second dip, the rebound lacks strength, which indicates that bearish momentum is still being continuously released. In the short term, the market may continue to weaken, and it may even set new lows.
At present, there are no signs that the market has stabilized or formed a bottom. What’s being referred to as a “rebound” is merely a consolidation pattern within the broader downtrend. Based on these factors, the downward trend remains unchanged. In terms of trading, you should still follow the bearish tempo and be cautious about rebound opportunities.
Trading recommendations:
ETH: Go short in the 1590-1600 range, with a downside target of 1500.
If you’re not up to the task, don’t force it—I'll make sure you’re in control of the whole situation. Choose the right guide, and it’s a new starting point for Yingli.
This week’s overall trend has continued to be weak and retracing. The bearish side has fully opened up the downside space, and the sell-off has been firmly established as a stage-level decline. The scattered, minor rebounds that appeared along the way are only technical, small-scale corrections within the broader downtrend—this is a secondary correction phase and completely lacks the power to reverse the larger structure.
Judging from the overall structure of the current chart, it is very clear that, in the short term, the market is dominated by bears. The chart has never managed to form a strong corrective rebound. Every time the price makes a slight upward probing move, it will be met with continued suppression from the main bearish force. The multi-layered pressures above firmly restrict bullish momentum, making the rebound height extremely limited.
From the short-cycle rhythm perspective, the market is currently in a sideways consolidation phase that is building up energy. This is a rest-and-digest period during the middle of a decline. After the sideways consolidation ends, the行情 is highly likely to continue the existing weak rhythm and turn weaker again, moving down.
Trading suggestions:
BTC (Big Cake): Short on the 60,500–61,000 range, targeting 59,000–58,500
When your own strength can’t adequately handle the market, it may be wise to find a strategist to plan the whole game. Choosing the right direction is the turning point; daring to try is an opportunity.
From a technical-structure perspective, the weekly chart is still in a high-volume phase after the breakdown. The bearish trend has not changed. This can be clearly seen from the limited rebound potential in recent price action. After the sharp pullback, there has been no obvious rebound space; both the force and the magnitude are relatively limited. Even if there is a minor rebound, it is quickly swallowed up by a second dip.
Therefore, before sufficient signs of a trend reversal appear, do not easily guess where the bottom is. In terms of trading, you should continue to follow the bearish trend. Only when there are clear reversal signals should you adjust your strategy more safely.
Trading suggestions:
Big Poeth: Short around 60,500—61,000, with targets at 58,000—57,500
Second Poeth: Short around 1,590—1,600, with targets at 1,520—1,500
Although there are some small signs of a pause in the decline during the day, the market briefly enters a sideways consolidation phase to build up momentum. However, the strength of this rebound and the extent of the rise are both extremely weak. This is only a minor correction within the larger downtrend, not a signal of a trend reversal.
On the weekly structure, the market still has expectations of continuing to trend lower and close bearish. The current overall pattern of downward movement along the channel has not undergone any fundamental change. At this stage, bottom-fishing against the trend offers poor value for money, and the risk is far greater than the potential reward.
After the earlier sharp drop, the market’s counterattack momentum is seriously insufficient. There is clear suppression during the rebound upward movement, with limited room. Follow the market’s direction and track the big downward momentum; wait until the price rebounds into the resistance zone, then look to set orders accordingly. Simply hold and wait for the downward move to pull back further.
BTC trade plan: Set orders near 59,800–60,300, target around 58,000.
ETH trade plan: Set orders near 1,590–1,610, target around 1,500.
Bearish sentiment remains in place. The US dollar and US Treasury yields continue to rise, and rate-cut expectations weaken. This round of modest gains is merely a technical rebound after data release, with no fundamental reversal support; the broader short trend remains unchanged.
On the daily chart, the bearish pattern is intact. Medium- to long-term moving averages continue to stack down from top to bottom, heavily capping the gold price. The overall downward trend is unchanged. Short-term rebound momentum is weak. Multiple resistance levels are densely clustered overhead, severely limiting upside. The rebound is only a corrective move during the downswing, so chasing long positions blindly is not advisable. Set up short positions first, with the rebound likely facing pressure.
Near-term resistance: 4050, 4080. Support below: 4000, 3980.
On Friday during the day, it is highly likely to trade in a range. We will operate with a high-sell/low-buy strategy around the 4040–3980 range.
Trading recommendations:
Short near 4030–4040 on rebounds; targets 4000. If it breaks down further, watch 3980–3960. Stop-loss: 4050.
If 4000 is not broken, you may consider a small-sized short-term long. Upside toward 4040–4050. Stop-loss: 3990.