We believe that the final target of the medium-term trend is not over at the moment. The price is forming a correction with the formation of liquidity compression on the 1 day chart. In addition, the marked range has external liquidity above 32 thousand. In our opinion, the price will strive to cover the marked range of 32-34 thousand from there, the continuation of the global downtrend is expected. In addition, the broad sentiment in the market is not currently euphoric, which may be after the update of the current medium-term high. Do not forget that the current trend is most likely coming to an end, I pay all attention to the marked areas. The price is in the area of interest for sales of the higher timeframe, and any formations at the moment should be considered as a distribution phase.
Comment:
the price tests the marked buyer zone. It is necessary to watch price formations. The probability of a reversal will be if the price draws the formation shown on the chart - w reveresal
Comment:
the price has engulfed the previous wave of decline. But need to observe for closing of week. Manipulation still possible
Comment:
realisation of compression has begun
Comment:
Compression of internal liquididty realized. First target complite. the price can get resistance at this level. But the based scenario above 32 remains relevant. Stay focused.
Comment:
The price again tests the level of support. But this time we see an aggressive decline. Many assure that the fall happened on bad news. But remember one thing. The graph is primary, the news is secondary. At the moment, there is great reason to believe about the mid-term stage of price reduction. Stay tuned for updates.
Comment:
All target completed. We are expecting We expect a further price decline as part of the long-term trend