Gold $PAXG is going to break 5600 or is it a profit-taking? 👀
On the 4-hour frame, the trend is still upward, the price is above the averages and the structure of the peaks and troughs is positive. The momentum is present but not saturated, which means there is a chance for continuation — but with caution.
Important areas:
Strong support 5320–5280
Critical resistance 5580–5600
The closest scenario currently (about 60%): Staying above 5320 and breaking 5520 pushes for a retest of 5600 and it may be broken.
The second scenario (40%): Rejection at 5600 = quick profit-taking towards 5100–5050.
As a trader: don't chase the candle. Wait for a clear confirmation of a break or rejection and enter with a plan and capital management.
As we see in the movements $BTC — the real breakout always has a retest before the launch.