2026-01-05 08:27:36

Gold has recently become quite interesting. From the 1-hour chart, the price confirmed a W-bottom reversal around 4350, followed by increased volume, and sharply rebounded to the key resistance at 4400. This is not a simple bounce—it's a genuine breakout, and a standard BOB structure has formed, indicating that the hourly bullish trend has officially been established.

Currently, the price is consolidating around 4423, forming an ascending wedge pattern. This type of consolidation is common in bullish markets and is part of a buildup phase. In other words, the price is accumulating strength and preparing to move higher.

Looking at smaller timeframes, this situation is quite interesting—short-term momentum is strong, but an adjustment has already begun. However, based on the double bottom pattern on the hourly chart, the medium-term bullish tone remains unchanged. The short cycle is accumulating energy, and the medium cycle is bullish, with both timeframes resonating. This provides more operational space.

What’s next? If the price holds above 4400 to 4405, it is likely to break through the wedge resistance and push towards the resistance near 4460, with a chance to test 4500.

But if it falls below the key support at 4404, a retest around 4380 is necessary to confirm the support again. At this point, caution is needed for a short-term correction, as risks are still present.

In terms of trading, you can consider going long between 4405 and 4400, with the first target at 4460 and the second at 4500. If there are volume breakout signals on the right side at 4425, the opportunity to chase longs remains, as support has not changed. Remember, 4380 is a key strong support below and also the boundary for trend reversal. Do not let it be easily broken.

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Rugman_Walking

· 20h ago

Damn, it's another BOB pattern. Can you not fool me this time? This wave of gold is really interesting. When it broke 4400, I thought it was a false breakout again. That line at 4380 must be defended at all costs, or else it'll be a blood loss again. If you ask me, wait for the volume to pick up at 4425 before chasing, don't get fooled into a wedge pattern. This round is dancing with risk. Be careful not to get caught off guard.

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HorizonHunter

· 20h ago

It's the same old analysis again. If 4380 can't hold, then we have to admit defeat.

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BugBountyHunter

· 01-05 08:57

4380 is really the life and death line. If it's broken, you have to run. It would be great if we can hold this wave.

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MemecoinTrader

· 01-05 08:56

ngl the double bottom confirmation into BOB structure is textbook social arbitrage setup... watch the narrative cascade when retail spots this 4380 support line. memetic velocity bout to hit different

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down_only_larry

· 01-05 08:56

4380 broke the mentality completely collapsed, still have to continue buying the dip, right?

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ETHReserveBank

· 01-05 08:55

Is this four-rounding operation again? Can 4380 really hold? --- Double bottom confirms the bullish trend. This wave does look quite interesting. --- Consolidation at 4423 is just eating up chips. Mid-term bullishness is fine, but where are the risks? --- I believe in the upward wedge buildup, but can we break through 4460 this time? Feels like we've hit a wall a few times before. --- Resonance, resonance. Every time it's said, but we still haven't made a new high. A bit frustrating. --- Hold at 4405 and then push to 4460. Sounds simple, but how about in reality? --- Key support at 4380. Next time we hit this line, I'll cut my position directly. --- Chasing the 4425 long opportunity? Wait for volume signals before deciding. Don't get fooled into it.

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LiquidatedDreams

· 01-05 08:51

Again and again W bottom, why do I feel like I'm hearing about the W bottom every week... Forget it, if 4400 breaks, it breaks. Let’s see if we can push to 4500. Hmm, is this BOB structure reliable? Last time I trusted this, I almost got liquidated. Double bottom resonance? Sounds good, but I glanced at 4380... still a bit nervous. Consolidation at 4423, I need to be patient, but I just can't sit still. If it really breaks 4405, I’ll go all in, with the first target at 4460, taking a gamble. I've heard many times that support hasn't changed, but in the end, the support just disappeared. It all depends on whether 4380 can hold. If it can't, the whole bottom-fishing plan is ruined. Wedge buildup? Basically, it’s just waiting, waiting for a big move to come.

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