Strong impulsive move up.
Price started forming a rising channel.
After tapping upper channel resistance, momentum faded.
Now we’re seeing a controlled bearish pullback inside the structure.
That red leg down shows short-term bearish pressure — lower highs forming on the intraday scale.
📉 Current Situation
Price is sitting around 68,800–69,000 zone, which is:
Near the lower channel trendline
At a marked horizontal support / prior resistance flip area
This is a decision zone.
🐂 Bullish Scenario
If price:
Holds above 68,700–68,800
Prints higher lows on lower timeframe
Breaks back above 69,500–69,800
Then we could see a push toward:
70,300
71,000
Possibly upper channel resistance again
This would confirm the channel is still respected.
🐻 Bearish Scenario
If price:
Breaks and closes below the lower channel
Loses 68,700 decisively
Then momentum likely accelerates toward:
67,800
67,000 area
That would invalidate the bullish channel structure and shift bias short-term bearish.
🎯 Bias Right Now
Neutral-to-bullish as long as the channel holds.
But short-term momentum is bearish until structure flips back.
This is a classic “support reaction or breakdown” moment.
Price started forming a rising channel.
After tapping upper channel resistance, momentum faded.
Now we’re seeing a controlled bearish pullback inside the structure.
That red leg down shows short-term bearish pressure — lower highs forming on the intraday scale.
📉 Current Situation
Price is sitting around 68,800–69,000 zone, which is:
Near the lower channel trendline
At a marked horizontal support / prior resistance flip area
This is a decision zone.
🐂 Bullish Scenario
If price:
Holds above 68,700–68,800
Prints higher lows on lower timeframe
Breaks back above 69,500–69,800
Then we could see a push toward:
70,300
71,000
Possibly upper channel resistance again
This would confirm the channel is still respected.
🐻 Bearish Scenario
If price:
Breaks and closes below the lower channel
Loses 68,700 decisively
Then momentum likely accelerates toward:
67,800
67,000 area
That would invalidate the bullish channel structure and shift bias short-term bearish.
🎯 Bias Right Now
Neutral-to-bullish as long as the channel holds.
But short-term momentum is bearish until structure flips back.
This is a classic “support reaction or breakdown” moment.
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JOIN MY TELEGRAM CHANNEL LINK t.me/mindgolde JOIN MY TELEGRAM CHANNEL LINK t.me/mindgolde
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.