Michaël van de Poppe: Bearish on Gold at $3200

Michaël van de Poppe stays strongly bearish on Gold and plans to wait for higher-timeframe support at $3200 after the asset posted its strongest rally since 1980.

The trader expects the correction to last months or longer than a year and will rotate crypto profits into Gold and Silver only after that move completes.

Bitcoin trades at $77704.83 inside its Bollinger Bands with the 50-EMA at $79537.7 acting as resistance and the 200-EMA at $81263.09 capping upside; the MACD golden cross at -782.2 signals building momentum while RSI at 40.5 keeps the structure neutral, so price may test the upper band near $81556.13 before any deeper retracement toward the lower band at $75472.31.