The daily chart for $XAUT /USDT shows a clear shift from an aggressive uptrend into a corrective structure. Focusing purely on the candlesticks and key levels:
Market Analysis
Candlestick Pattern: After a strong rally to the 4,810 peak, we see a "Double Top" or a lower high formation. The current daily candle is pushing down, breaking the support of the previous three days of consolidation.
Support/Demand Zone: The most immediate horizontal support sits at 4,633. This was a previous turning point where buyers stepped in.
Trend Shift: The series of higher highs has been broken. We are now seeing a "Lower High" (at roughly 4,770) followed by a "Lower Low" attempt, which signals a bearish transition in the short term.
#Trade #signal (Price Action Setup)
Direction: Short (Sell)
Entry: 4,686 – 4,700 (Current market price or on a slight pull-back to the broken support-turned-resistance).
Take Profit 1: 4,635 (Major horizontal support level).
Take Profit 2: 4,580 (Previous swing low).
Stop Loss: 4,760 (Above the recent lower high to invalidate the bearish thesis).
Note: If the price hits 4,633 and shows a long "wick" at the bottom (buying pressure), consider closing shorts as that area remains a strong demand zone.