This chart shows a potential bearish setup after a recent bullish move. Price created a weak high around the 3,490 level and faced rejection, indicating possible downside momentum. The market structure highlights a Break of Structure (BOS) and Change of Character (CHOCH), suggesting a shift from bullish to bearish sentiment. The projection indicates a retracement towards the 3,447–3,440 demand zone, where price may find support. Overall, the analysis suggests a short-term drop before any potential reversal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.