- First we must highlight that the price is currently still in a downward trend, which we will not end until we see the elimination of the High from previous days, since although we have seen Bullish CbdE and upward developments, they have only been reversals of the trend current that is still valid.
- If we look closely we can identify that the price continues to leave us with decreasing highs and decreasing lows. In addition, it is relying on a downward trend line which has been serving as resistance since the first day the price drops began, and when Let's see its breakout, it will be a clear sign that the possibilities of starting the new bullish phase could be beginning.
- Since the beginning of the trend in which the price is currently Bearish, we can see that it has only had one relevant setback, which only said setback has caused CbdE Bullish which tells us that once again when we see Another CbdE To the upside in intermediate temperatures we could see bullish developments as we saw yesterday.
- We must also highlight that the price eliminated yesterday's Low in NY, which we can identify both as a liquidity grab to now turn around, and as an increase in strength of the current trend. It is also worth mentioning that the price is close of Demand zones plus valid Ordec Block. Therefore, we would not be surprised to continue seeing Bearish extensions to lower levels.
IMPORTANT:
- Currently the price left us with a bullish CbdE but in shorter periods. Therefore, even if the price reacts to the rise and changes the trend and even having a confirmation, we would not be buying, since said CbdE was made in shorter periods, which does not leave us with a high probability in favor of looking for purchases now.
- I must also mention that the price currently after said CbdE to the minor rise is consolidating, which can be understood as an accumulation of liquidity to possibly start its new bullish phase from where it is located or at least a new setback to the rise of the Still current Bearish trend in which the price is.
- Although the last Low that the price left has not been eliminated, after eliminating yesterday's Low, we cannot trust that the price will begin its new bullish phase from now on, since it has two important areas of Demand which still none have been mitigated. For this reason, we still hope to see continuations to these areas and then be looking for possible high probability bullish CbdE.
EYE:
- The areas mentioned above are located at relevant levels from where the last bullish impulse that we had last week began. Specifically, we must keep a close eye on the levels between 1.06530 and 1.06409 since this is where the Ordec Block with Imbalance is located, which is still located. It hasn't even been touched by the price.
- On the other hand, within it and outside the Ordec Block mentioned above, we have the most important Demand area since the last Bullish impulse which covers even more space where the price can mitigate, consolidate and even manipulate and then be seeing CbdE of high Bullish probability, which can lead us to see the new Bullish phase in the price in the medium and even long term. This zone resides between the levels of 1.06530 and 1.06244.
- To reach these important Demand areas, we must first see the elimination of today's Low, which is located at the key level of 1.06600.
- While if the price breaks the last decreasing High located at the key level of 1.06783, we could EYE, it is not certain or of high probability due to what was mentioned above, but there is a possibility that the price will give us another significant setback like the one we saw yesterday before continuing to fall to the important Demand areas that we have at lower levels.
- We would have 3 options from what I can identify so far, if the price decides to break the last decreasing High that it left today, 1- It would be that the price wants to take liquidity from the sellers before continuing to fall and manipulate said high of the day and then continue falling, 2- that the price only goes in search of a key level to use as resistance to continue with its fall, such as the 200 period EMA as well as the level of 1.06838 which was the cause of the CbdE bullish for the significant decline mentioned yesterday, and 3- that the price, at the same time as manipulating the high of the day, meets the important bearish trend line where it could be used again as resistance to continue falling.
- To close the analysis of the day, if we see Bullish continuations we could see the extension as the first objective to reach the key level of 1.06998 and 1.07100.
- As I finished writing the analysis, the price manipulated the high of the day. Therefore, as long as it is not eliminated by closing above it, the bullish extensions to the levels mentioned above that could have as first objectives would not be valid. And on the other hand On the other hand, that could also be a sign that the price will continue to fall until the Low of the day is eliminated and you reach the important demand areas.
- If we look closely we can identify that the price continues to leave us with decreasing highs and decreasing lows. In addition, it is relying on a downward trend line which has been serving as resistance since the first day the price drops began, and when Let's see its breakout, it will be a clear sign that the possibilities of starting the new bullish phase could be beginning.
- Since the beginning of the trend in which the price is currently Bearish, we can see that it has only had one relevant setback, which only said setback has caused CbdE Bullish which tells us that once again when we see Another CbdE To the upside in intermediate temperatures we could see bullish developments as we saw yesterday.
- We must also highlight that the price eliminated yesterday's Low in NY, which we can identify both as a liquidity grab to now turn around, and as an increase in strength of the current trend. It is also worth mentioning that the price is close of Demand zones plus valid Ordec Block. Therefore, we would not be surprised to continue seeing Bearish extensions to lower levels.
IMPORTANT:
- Currently the price left us with a bullish CbdE but in shorter periods. Therefore, even if the price reacts to the rise and changes the trend and even having a confirmation, we would not be buying, since said CbdE was made in shorter periods, which does not leave us with a high probability in favor of looking for purchases now.
- I must also mention that the price currently after said CbdE to the minor rise is consolidating, which can be understood as an accumulation of liquidity to possibly start its new bullish phase from where it is located or at least a new setback to the rise of the Still current Bearish trend in which the price is.
- Although the last Low that the price left has not been eliminated, after eliminating yesterday's Low, we cannot trust that the price will begin its new bullish phase from now on, since it has two important areas of Demand which still none have been mitigated. For this reason, we still hope to see continuations to these areas and then be looking for possible high probability bullish CbdE.
EYE:
- The areas mentioned above are located at relevant levels from where the last bullish impulse that we had last week began. Specifically, we must keep a close eye on the levels between 1.06530 and 1.06409 since this is where the Ordec Block with Imbalance is located, which is still located. It hasn't even been touched by the price.
- On the other hand, within it and outside the Ordec Block mentioned above, we have the most important Demand area since the last Bullish impulse which covers even more space where the price can mitigate, consolidate and even manipulate and then be seeing CbdE of high Bullish probability, which can lead us to see the new Bullish phase in the price in the medium and even long term. This zone resides between the levels of 1.06530 and 1.06244.
- To reach these important Demand areas, we must first see the elimination of today's Low, which is located at the key level of 1.06600.
- While if the price breaks the last decreasing High located at the key level of 1.06783, we could EYE, it is not certain or of high probability due to what was mentioned above, but there is a possibility that the price will give us another significant setback like the one we saw yesterday before continuing to fall to the important Demand areas that we have at lower levels.
- We would have 3 options from what I can identify so far, if the price decides to break the last decreasing High that it left today, 1- It would be that the price wants to take liquidity from the sellers before continuing to fall and manipulate said high of the day and then continue falling, 2- that the price only goes in search of a key level to use as resistance to continue with its fall, such as the 200 period EMA as well as the level of 1.06838 which was the cause of the CbdE bullish for the significant decline mentioned yesterday, and 3- that the price, at the same time as manipulating the high of the day, meets the important bearish trend line where it could be used again as resistance to continue falling.
- To close the analysis of the day, if we see Bullish continuations we could see the extension as the first objective to reach the key level of 1.06998 and 1.07100.
- As I finished writing the analysis, the price manipulated the high of the day. Therefore, as long as it is not eliminated by closing above it, the bullish extensions to the levels mentioned above that could have as first objectives would not be valid. And on the other hand On the other hand, that could also be a sign that the price will continue to fall until the Low of the day is eliminated and you reach the important demand areas.