Bullish Scenario
Green spaghetti: If we hold the 20700 support, then upside to the monthly support at 23500 is likely. After that, we could blast through the low-volume range straight to 30k.
Neutral Scenario
White spaghetti: If we lose the 20700 support, we may drop down and touch the nPOC at 19500 (with weekly/VAL confluence) and see a bounce to retest the 20700 level.
Bearish Scenario
Red spaghetti (the least likely scenario IMO): If we lose the 18800 support, we will test the long-term trend line support and possibly drop down to touch the POC at 16900.
Green spaghetti: If we hold the 20700 support, then upside to the monthly support at 23500 is likely. After that, we could blast through the low-volume range straight to 30k.
Neutral Scenario
White spaghetti: If we lose the 20700 support, we may drop down and touch the nPOC at 19500 (with weekly/VAL confluence) and see a bounce to retest the 20700 level.
Bearish Scenario
Red spaghetti (the least likely scenario IMO): If we lose the 18800 support, we will test the long-term trend line support and possibly drop down to touch the POC at 16900.