Price broke long term up trend and broke a huge support level
Scenario 1: Breaking support could be a false break, price will go up and retest on support level and rallies up.
Scenario 2: Price fall was so strong that it broke support on purpose and sellers closed there position, price go up slightly to touch support level to the downward and then falls again....
Scenario 1: price could break support, do a retest then shoots up
Scenarion 2; price could break the medium term up trend, and falls
Me personally if won’t trade at this point because of uncertainty
*always wait for confirmation before entering a trade
Price broke long term trend
Price tested the long term trend
Price made a single top amd expected to make a double top and then BIG SELL
Will wait for confirmation before going short (expecting a wick or a hammer and oversold RSI)