#XAU Gold Market Analysis 10/23 The long position in gold, which had been advocated for many days, has completely failed—losing the profits gained from shorting Bitcoin in the process. The price consolidated within the red box for 23 days, during which time I believed it was an accumulation pattern, expecting an upward breakout after completion. Thus, my previous stance was to remain bullish as long as the price did not fall below 4,066. Since it broke below that level yesterday, we must respect the objective reality: this bullish move has definitively failed. Gold particularly favors sharp, rug-pull-style declines followed by immediate V-shaped reversals. Central banks around the world significantly increased their physical gold holdings around the 4,100 level. If gold drops below 4,000, I believe it will rebound quickly—considering purchasing paper gold could be a viable option. Key support levels for gold: 3,960 and 3,820–3,900.