Price action was unable to break to the topside and pulled back under the selling pressure. In 1 hour, the price fell ~700 or 6%.
Overall, the price action is forming a bullflag, but the overbought indicators tell us that there could be more consolidation before the pattern resolves.
Bearish: support breaks down and the price falls under 11,000
Bullish: If price action were to break above 11,500, the next point of resistance to watch would be 11,700.
55% / 45%