Price is currently testing a key resistance zone aligned with a descending trendline. After a recent CHoCH, momentum appears weak as price struggles to break higher. A rejection from this area could lead to a move back toward lower support levels, while a sustained breakout above resistance may invalidate the bearish bias.
Note: This is not financial advice. Always manage risk properly.
Key Levels:
Resistance: 4,720 – 4,760
Support: 4,680
Major Support / Target: 4,630
Rejection from 4,720–4,760 → potential move toward 4,680 → 4,630
Break and hold above 4,760 → bearish view invalidated
Note: This is not financial advice. Always use proper risk management.