ATH Showdown: Double Top Forming at Major Confluence Zone

Price is trading into a major HTF confluence area around ATH, where prior resistance, trendline interaction, and extended Fibonacci levels align. On the daily timeframe, the developing M-pattern (double top) signals potential distribution and increases the risk of a downside move rather than immediate continuation. I’m watching 4390, 4396, and 4404 as key reaction zones above ATH, where price must show strong acceptance to confirm a valid breakout. Failure to hold above these levels would suggest exhaustion and favor a rejection leading to a corrective sell-off toward lower structure and unfilled inefficiencies below. A sustained break and hold above these reaction zones would invalidate the bearish thesis.