$BTC #比特币VS代币化黄金 Golden Week fluctuations conceal mysteries; short-term bulls and bears require precise positioning. This week, the overall volatility in the gold market has significantly narrowed, with only a 100-point range between the weekly high and low. Prices have consistently hovered around the opening price at the beginning of the week, and the weekly candlestick pattern is likely to form a doji. From a daily perspective, the market has been stuck in sideways fluctuations for four consecutive trading days. Considering the current market sentiment and capital flow, it is highly probable that today will also conclude with fluctuations. However, it is important to note that the overall trend still carries a bullish undertone—although the bulls are currently in a correction phase, this correction has not yet completed sufficient turnover from a time perspective. The market is likely to maintain a tug-of-war between bulls and bears for some time. After all, the support from recent Fed rate cut expectations remains, and the short-term bullish momentum has slightly weakened, leading the market into a consolidation phase rather than a trend reversal. On a short-term level, after gold prices retraced to the 4195 line, they have begun to rise slowly. If they can effectively break through yesterday's high of 4219, it means that the short-term bulls are starting to regain control. However, it must be clear that gold has not entered a very strong trend, and blindly chasing after it could easily lead to a passive position. Therefore, in terms of operations in the US market, it is recommended to focus on gradual accumulation, waiting for prices to retrace to the support range of 4203-4213 to gradually build long positions: the lower level of 4203 is the key support for recent fluctuations, while 4213 is the retracement neckline of the slow rising trend for the day. Gradual entry at these two price levels can effectively disperse risk. The upper targets to focus on are the two major resistances of 4250 and 4266: 4250 is a pressure point that has been tested multiple times in the past, and after breaking through, one can look towards the 4266 phase high. If it can hold above 4266, the bulls are expected to initiate a new round of upward movement. Additionally, it is crucial to be alert; if the US market price breaks below the key support of 4200, it may trigger stop-loss orders for short-term bulls, and at that time, the market could drop to the 4180-4185 range, requiring timely adjustments to the operational strategy.