Reversal Target: 18,800 USD

1. Price Action

The price has been trending within an ascending channel.

It recently touched the upper boundary of this channel and entered a resistance/support zone (marked in red at the top).

The blue arrow suggests a projected breakdown from the channel.


2. Support & Target

The target zone is marked around 18,800 USD, with a label and flag indicating this as a key level.

This zone is also aligned with a previous consolidation area and possibly strong historical support.


3. Indicators

EMAs:

50 EMA (red line): 20,762.7

200 EMA (blue line): 19,861.5

The price is currently above both EMAs, typically bullish, but divergence from the channel and potential resistance may imply an upcoming correction.


RSI:

Currently at 65.03, nearing overbought territory (70).

The RSI shows a bearish divergence—price makes higher highs while RSI stays flat or dips slightly.



4. Implications

If the price breaks below the channel and 50 EMA, a move toward 200 EMA or the marked target zone (around 18,800 USD) is likely.

Traders may look for confirmation via a break of lower trendline support, a strong red candle, or declining volume before entering short.