XAUT/USDT - Bears In Control After Rejection From $4,057! What's Next?
Gold is bleeding on Bybit today.
*XAUT/USDT* is trading at *$3,969.68 (-1.65%)* after failing to hold above $4,050. The chart is showing a clear bearish structure.# What The Chart Is Telling Us:
*1. Strong Rejection From High:*
Price made a 24h High at *$4,056.98* and then dumped hard straight to *$3,966.09* - almost a $90 drop. Sellers are in full control.
*2. All Moving Averages Bearish:*
MA7: $3,975.05
MA14: $3,978.29
MA28: $3,979.74
Price is trading BELOW all 3 MAs. This is a classic downtrend confirmation. Every small pump is getting sold.
*3. Failed Bounce:*
We saw a small bounce to ∼$3,988, but buyers couldn't push it back above $3,990. Now price is back near the lows. This looks like a dead-cat bounce, not a rever# My Bias: BEARISH (Short-Term)
As long as XAUT stays below *$3,980 - $3,990*, I expect more downside.
*Key Levels To Watch:*
*Resistance:* $3,980 / $3,990 / $4,020
*Support:* $3,966 (24h Low) / $3,940 / $3,900
*Trade Plan:*
*Short / Sell Idea:*
Entry: $3,975 - $3,985 (if retest)
Target 1: $3,966
Target 2: $3,945
Target 3: $3,910
Stop Loss: Above $4,005
*Long / Buy Idea (Only if):*
Only consider long if price holds above $3,966 and reclaims $3,990 with strong volume. Target then would be $4,020.
*Order Book Hint:* Sellers are dominating - 86% Sell vs 14% Buy pressure at the moment. Momentum is clearly bearish.
Do you think Gold will break $3,966 and go to $3,900, or will buyers defend here?
Drop your view in comments 👇
_Not financial advice. Always use Stop Loss and manage your risk._
