$BTC $ETH Tuesday Morning Gold Insights
Overnight, gold dipped to 4176 before quickly rebounding, currently oscillating narrowly above 4190. From the 1-hour cycle perspective, the market is still in the technical recovery phase after the decline, with no clear reversal signals appearing, and the overall weak pattern remains unchanged.
The short-term moving averages maintain a bearish arrangement, but the downward momentum has significantly weakened, with prices forming effective support at the lower Bollinger band.
First resistance at 4200-4205, the middle Bollinger band; second resistance at 4220-4225, the upper Bollinger band; only when it stabilizes at the middle band and breaks above the upper band with volume will the short-term trend have conditions for strengthening.
Low-level support is strengthening, but the rebound volume is insufficient.
During the decline phase, the volume has decreased, and lower shadows have frequently appeared, reflecting an increase in support near the low of 4176.
The rebound process has not seen a corresponding increase in volume, remaining of a corrective nature; if the 4190-4195 area continues to stabilize, there is hope for a rise to 4215-4220; if the support at 4180 is lost, it may test the low of 4165-4170 again.
Trading suggestions:
Bullish opportunities: After stabilizing in the 4190-4195 area, consider light positions to go long, targeting 4215-4220, with a stop loss below 4180. $BTC
