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Current Price: $131.79
Trend: The price is currently in a downtrend from $140.00.
Projection: The chart suggests a continuation of the downtrend. A potential scenario involves a small bounce/retest (indicated by the blue arrow) toward the $132.45 resistance/entry area, followed by a move down to the Demand/Support Zone marked by the black boxes, around the $123.16 level.
In short: Bearish outlook. Anticipate a drop toward the $123 support area after a possible brief retest higher.
tradingview.com/x/SRacmOl2
Trend: The price is currently in a downtrend from $140.00.
Projection: The chart suggests a continuation of the downtrend. A potential scenario involves a small bounce/retest (indicated by the blue arrow) toward the $132.45 resistance/entry area, followed by a move down to the Demand/Support Zone marked by the black boxes, around the $123.16 level.
In short: Bearish outlook. Anticipate a drop toward the $123 support area after a possible brief retest higher.
tradingview.com/x/SRacmOl2

In SMC terms, price is reacting from a supply zone, indicating that the previous move up has met active selling. As long as price continues to respect this supply area, the market can seek downside liquidity toward the 121.91 support region.
This observation highlights how price often moves from a supply imbalance toward a previous demand or liquidity zone.
Shared purely for educational and learning purposes.

For now I want to see if momentum continues to build as price approaches the breakout level.
tradingview.com/x/ZepyaArO/
