Current Situation: The price is consolidating below a clear resistance zone around 96,000.
Price Action: The chart suggests a possible range movement within the resistance zone before a potential breakdown.
Targets:
Target 1: Around 91,700 — a minor support level.
Target 2: Around 88,500 — a stronger support zone aligned with the previous breakout area.
Indicators: The Ichimoku Cloud shows some future support, but it's thin, hinting that a breakdown could happen if momentum increases.
Bias: Bearish below resistance, aiming for Target 1 and potentially Target 2 if selling pressure grows.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.