According to Trader Tardigrade, the gold market ($XAU) is displaying a bearish setup as prices break the ascending trendline and form lower lows. The trader notes a reversal from an uptrend to a downtrend, with a retest of the last resistance anticipated before a new lower low. The target is approximately at the Fibonacci 0.382 retracement of the latest run, with a recommended sell position at $3030. This analysis is critical for traders considering short positions.

According to Mihir (@RhythmicAnalyst), the Bitcoin 1-week (1W) timeframe is exhibiting a negative divergence, which suggests a bearish setup. This pattern may be invalidated if Bitcoin's price achieves a new high. The $90k (+/- 1k) range is identified as critical for this analysis.