Gold will go down and up

As we can see in the chart, RSI is in the overbought region for gold. However, we also realize that gold has broke above its descending channel started growing up back again. Thus, I expect it to go down to 0.618 levels and start gaining more power to another run. After that, we may expect the price to go up to 0.786 levels (1988).
Share your thoughts on my idea in the comments section!!