The key question here is simple:
Are buyers reclaiming control, or is this just a bearish pullback into resistance?
From my view, this is not a prediction. It is a location-based setup.
Price is currently reacting around a major area where several things overlap:
- Previous neckline / breakdown zone
- Prior resistance near the old Head & Shoulders structure
- Bearish BC reaction area
- A possible seller defense zone after the aggressive move higher
This matters because price has already shown weakness from the larger structure. The earlier Head & Shoulders breakdown gave the first warning. After that, price created a larger bearish sequence, and now the market is pulling back into a zone where sellers logically need to defend.
If sellers hold this area, the next logical path is a continuation lower toward the bearish sequence target, with the larger WCL zone below acting as the main area of interest.
For me, the bearish idea remains cleaner as long as price fails to reclaim this resistance zone with strength.
A strong daily close above the current supply / neckline area would weaken the bearish case and force a reassessment.
Bias: Bearish while this zone holds
Invalidation: Strong reclaim above resistance
Main area of interest below: Bearish ABC target / WCL zone
The chart is not saying “META must fall.”
It is saying this is where sellers have to prove themselves.
Not financial advice.
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