📈 $GOLD/USDT: Cup & Handle Nears Breakout – Bulls Eye $5,700! 🚀📊
Trading at $5,047** on Feb 22, Tether Gold (XAUT) is consolidating within a bullish structure, up modestly from last week's lows. The tokenized gold giant now commands **>60% of the market** with **$2.66B market cap and 94 tonnes moved on-chain in six months .
📊 Chart Analysis: Ascending Triangle Intact
The 4-hour chart reveals a bullish ascending triangle, with rising support near $4,889** and flat resistance at **$5,070–$5,090** . Price currently hovers above key support, testing the **100 EMA ($5,012). A decisive break above $5,090** opens the door to the measured target of **$5,698 (14%+ upside) . The structure remains valid as long as $4,889 support holds .
💰 Volume & Market Context
24-hour volume stands at $172–247M**, showing steady institutional participation . Technicals show **Neutral oscillators** but **bullish moving averages** on higher timeframes . The Fear & Greed Index remains at **Extreme Fear (9)** , often a contrarian signal . Recent price history shows support building after the Feb 5 low of **$4,657 .
🎯 Trade Plan: Two Paths
• BULLISH BREAKOUT: Entry on daily close **above $5,090** with volume >$250M. Target $5,698** (triangle projection). Stop below **$5,012 .
• SUPPORT BOUNCE: Buy pullbacks to $4,950–4,980** zone. Stop below **$4,889. First target $5,070**, then **$5,150 .
• BEARISH INVALIDATION: Daily close below $4,850 cancels bullish structure.
🧠 Verdict: Gold is compressing like a spring. The triangle points up—** bulls defend $4,889, bears need $5,090 to flip**. Patience pays here. 🎯🛡️
