Contrary to expectations and the defense of the local low, buying pressure failed to resume fully, leading to a decline.
Currently, we are approaching the buyer's zone at $84,400-$82,900 (accumulated volumes)—monitoring the reaction at this level is crucial.
From a wave analysis perspective, the local uptrend has been broken, and short positions are now the priority. A sell zone has formed above the current price at $86,000-$87,200, where we anticipate a continuation of the downward movement. Another short entry point would be a false breakout of the local high at $88,800.
Sell Zones:
$86,000-$87,200 (absorption of buyer's market aggression)
$95,000-$96,700 (accumulated volumes)
$97,500-$98,400 (pushing volumes)
$107,000–$109,000 (volume anomalies)
Buy Zones:
$84,400-$82,900 (accumulated volumes)
$77,000-$73,000 (volume anomalies, pushing volumes)
Currently, we are approaching the buyer's zone at $84,400-$82,900 (accumulated volumes)—monitoring the reaction at this level is crucial.
From a wave analysis perspective, the local uptrend has been broken, and short positions are now the priority. A sell zone has formed above the current price at $86,000-$87,200, where we anticipate a continuation of the downward movement. Another short entry point would be a false breakout of the local high at $88,800.
Sell Zones:
$86,000-$87,200 (absorption of buyer's market aggression)
$95,000-$96,700 (accumulated volumes)
$97,500-$98,400 (pushing volumes)
$107,000–$109,000 (volume anomalies)
Buy Zones:
$84,400-$82,900 (accumulated volumes)
$77,000-$73,000 (volume anomalies, pushing volumes)
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Unlock your potential in trading
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.