Interest Rate Cut Expectations Delayed, Market Selling Pressure Persists; Gold Enters Volatile Downtrend

Spot gold experienced significant fluctuations yesterday: the morning session showed narrow-range consolidation, with a sharp decline in the afternoon, with international gold prices dropping to a low of $4502, representing a daily decline exceeding 3%; domestic gold retreated significantly in sync, with losses approaching 5%. After the sharp decline, gold prices did not continue lower but gradually stabilized and rebounded, showing a small rebound in the early morning and this morning's early session, overall exhibiting a pattern of sharp decline followed by recovery.
From the 1-hour Bollinger Bands and K-line structure, gold previously experienced one-sided declines, touching a low of 4502.57 before a minor rebound, with prices currently oscillating around 4652, showing weak rebound momentum. The upper band continues to trend downward, with the middle band at 4667.62 forming obvious resistance, the lower band slightly contracting, overall maintaining a bearish structure with downward opening, prices remain under pressure below the middle band, with rebounds difficult to break through key resistance.
After the sharp decline, the market only showed small positive candles and doji stars with consolidation, without clear stabilization signals or effective breakthrough signals, with rebound highs gradually declining, representing a typical mid-decline continuation pattern, bearish dominance remains unchanged. The middle band at 4667 and previous platform at 4850 above form a strong resistance zone with high difficulty in breaking through; the 4500 round number below represents recent key support, if broken again, it may open further downside space.
Trading Strategy: Focus on shorting at high levels
Deploy short positions in batches on rebounds to the 4690-4700 range, targeting 4620-4600-4540-4500-4400 sequentially. $BTC $ETH #Gate13周年全球庆典