1. Monthly Resistance was rejected on 1st test at 111 sats . 1st test is 90 % of the time gets rejected and the same thing happened here.
2. Candles also got rejected at T2, Which was a resistance. Upper has been tested 5 times. Observe closely. I have mentioned the numbers above. 1 to 5. But it was 5th time on the resistance not the Horizontal resistance. Test on Horizontal resistance was the 1st attempt that is why it was rejected. You see where i am heading towards! ( When Horizontal level and Diagonal level which is level is tested multiple times then it becomes weak. Here in this case, monthly level was tested 1 time but was tested 5 the time so it pulled back.
Monthly Resistance Test = 1st Attempt (Rejection 90% of times)
Resistance Test = 5th Attempt (Rejection due to 1st attempt of monthly test)
3. When it pulled back from monthly level it have to test the , which in this case is a zone between two daily levels from 96-89. Support 1 at 96, Support 2 at 89. As candle wicked past 96 and touched at 89, it came back to support at 96 as well as daily support at 96.
Daily Support= 96 sats
Support = 96 sats
4. Wait for new daily candle to form above daily level at 96 sats . If the candle forms above 96 sats , then it is going to test the monthly level at 111 sats again. But for that to happen, there must be an increase in , which is not happening right now, as well as is showing downward movement. But wait for the new candle.
5. If new candle forme below 96 sats , then it is going to test the 89 support and may bounce back again. And we might see some consolidation until a large builds up and we test the monthly level.
Right now, The move looks .
For = Increase in , Rejection from 96 sat level >> Then it will be .