The same is true about Monthly (4X) compared to Weekly and on daily as well (1/7) compared to Weekly - this is the so called Confluence Zone where and/or when several scales denote a turning point on price charts as Local & Global Minimas & Maximas.
Right at these Confluence Zones the Volatility Domain Margin start to get lesser and lesser where/when finally a major downward or upward momentum is triggered.
Also, have a look on the indicated horizontal Volume Profile. Where the most buyers have entered and where there are no more buyers.
Then, to keep it simple and having said it briefly I cannot find proper and qualified technical reasons to FOMO or FUD at all.
I prefer to keep my gold and stay calm until another Confluence Zone is observable somewhere around 65 to 70 grands.
This is no financial advice and you must DYOR.
PLEASE, drop likes and have your say at comments section if you find this analysis reasonable.
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