"Bearish Reversal Setup with Target at Key Support Zone (95,440

1. EMA Indicators:

50 EMA (red line): Currently at 103,112.73.

200 EMA (blue line): Currently at 98,739.46.

The price is above both EMAs, typically a bullish sign, but the analysis suggests a potential reversal.



2. Support Zone (Top Pink Box):

Around the 105,000–106,000 USD range.

Labeled as "support" but is likely being interpreted as a resistance now due to failure to break higher.



3. Target Zone (Bottom Pink Box):

Around the 95,000–96,000 USD range.

Marked as the "target point" for a potential drop.



4. Bearish Projection:

A curved arrow suggests a rejection from the current levels (~104,000 USD) leading down toward the target zone.

Large blue arrow emphasizes expected bearish momentum.




Interpretation:

The chart suggests a reversal from the recent highs and expects a decline toward the 95,440.94 USD support.

This could be driven by:

Rejection from resistance.

Overbought conditions.

Price losing momentum near the upper level.


Confirmation may be awaited via a break below the 50 EMA or loss of key support.


Strategy Implication:

Short bias if price fails to reclaim the resistance.

Take profit potentially near the 95,440 level.

Invalidation of the bearish scenario may occur on a strong breakout above the resistance zone (~105,700 USD).