The price is consolidating between 89,000 and 76,500 zone. But I can see another downward move to 76,500 is developing.
Where I drew blue rectangular blocks and red vertical lines in the chart (Feb and March 2025) are the very similar set up as the current situation as follows:
1) The market creates the set up where it looks like the price is slowly recovering and pushes above EMA200.
2) The reverses aggressively to the downside (liquidity sweep).
3) The price consolidates in the very tight range.
4) Momentum indicators move into the bear zone.
I already have one small short position, but once RSI and MACD enter the bear zone and the price stays below VWAP (purple line drawn from the August 24 low) and also closes below the buy order block (green box), I will open another short position.
Stop loss - above EMA 200 in 4H chart.
Target - 76,540
Where I drew blue rectangular blocks and red vertical lines in the chart (Feb and March 2025) are the very similar set up as the current situation as follows:
1) The market creates the set up where it looks like the price is slowly recovering and pushes above EMA200.
2) The reverses aggressively to the downside (liquidity sweep).
3) The price consolidates in the very tight range.
4) Momentum indicators move into the bear zone.
I already have one small short position, but once RSI and MACD enter the bear zone and the price stays below VWAP (purple line drawn from the August 24 low) and also closes below the buy order block (green box), I will open another short position.
Stop loss - above EMA 200 in 4H chart.
Target - 76,540
Trade active
Momentum indicators have entered the bear zone, but they lack energy. I am still watching the price action without taking any action. 
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Related publications
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.