Gold H4 Time Frame Chart Analysis

Why a Drop Makes Sense (Bearish Bias)

✔ Repeated rejections from the upper supply zone

The large purple zone around 4120–4130 has already rejected price multiple times
→ showing strong sellers there.

✔ Lower highs forming

The candles show a series of lower highs, meaning bulls are failing to push up.

✔ Price failing to break 4080–4090

This zone is acting as strong intraday resistance.
Your arrow shows price retesting it — that is a typical retracement before continuation down.