A daily block of bullish orders is holding the price back. In the range of 27160.50 - 27260.00 we see a pool of liquidity in the form of equal minimums. It is likely that it will be cleared ahead of a possible expansion to a weekly bearish order block.
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The market looks bearish. Despite the clearing of liquidity at 28142.85, I would like to see an entry into the overlying weekly block of bearish orders.
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We are now in the monthly FVG area. It is likely to see an expansion to three-month FVG from here, with equal lows clearing.
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The daily candle looks unusual at the moment, we received a liquidity raid + complete coverage of the daily imbalance. After this, it would be quite logical to see any local decline. The nearest underlying zone of interest on the daily chart is 24900 - 25900.
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There is nothing special to note on the daily chart, but I am ready to assume a possible achievement of 30350.
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The currently possible scenario is on the chart. This is not the most beautiful situation, so any decisions need to be made carefully. Potential target is 30350.
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Now the key mark for me is 29376.67 (Binance spot chart). See how the price closes relative to it. Closing below this mark on the 4h chart will give confidence in a possible continuation of the downward movement. Closing below this mark on the 12h chart will give much more confidence in this scenario. The absence of the desired closing makes one think to see the...
