Market Analysis:
Price has recently filled a daily Fair Value Gap (FVG) around $2,600 - $2,700, indicating that a key liquidity area has been mitigated. Following this, the market is currently consolidating within a descending wedge pattern, suggesting a potential breakout.
On the 4-hour timeframe, price is trading around $2,728 and is showing signs of bullish pressure, attempting to break out of the wedge to the upside. If a confirmed breakout occurs, we could see a push towards the next imbalance zone, which exists around $2,900 - $3,000. This gap above represents an area where price may seek liquidity before making its next move.
Once price taps into the $2,900 - $3,000 region, we could see bearish rejection, as this area may act as strong resistance. If selling pressure resumes from this level, price could potentially reverse back down towards $2,700 or lower, continuing the larger bearish trend.
Key Levels to Watch:
$2,600 - $2,700: Daily FVG (already filled)
$2,728: Current price
$2,900 - $3,000: Potential upside target if breakout occurs
$2,700: Possible bearish retest zone after filling the gap above
Overall, the market is at a critical decision point—whether it breaks out and fills the $2,900 - $3,000 imbalance before resuming the downtrend or fails to break out and continues bearish from the current structure.
Price has recently filled a daily Fair Value Gap (FVG) around $2,600 - $2,700, indicating that a key liquidity area has been mitigated. Following this, the market is currently consolidating within a descending wedge pattern, suggesting a potential breakout.
On the 4-hour timeframe, price is trading around $2,728 and is showing signs of bullish pressure, attempting to break out of the wedge to the upside. If a confirmed breakout occurs, we could see a push towards the next imbalance zone, which exists around $2,900 - $3,000. This gap above represents an area where price may seek liquidity before making its next move.
Once price taps into the $2,900 - $3,000 region, we could see bearish rejection, as this area may act as strong resistance. If selling pressure resumes from this level, price could potentially reverse back down towards $2,700 or lower, continuing the larger bearish trend.
Key Levels to Watch:
$2,600 - $2,700: Daily FVG (already filled)
$2,728: Current price
$2,900 - $3,000: Potential upside target if breakout occurs
$2,700: Possible bearish retest zone after filling the gap above
Overall, the market is at a critical decision point—whether it breaks out and fills the $2,900 - $3,000 imbalance before resuming the downtrend or fails to break out and continues bearish from the current structure.
Note
Made a typo at the "Current price" Should have been $2682
Trade active
Price is still consolidating in the gap, we had a small bullish fake out breaking the pattern but still looking bullish.
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🎁 Free trading Discord community
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🥇 My Preferred Exchange - 20% cashback
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
𝟔 𝐘𝐄𝐀𝐑𝐒 𝐄𝐗𝐏𝐄𝐑𝐈𝐄𝐍𝐂𝐄𝐃 𝐓𝐑𝐀𝐃𝐄𝐑
💎 Free Signals
t.me/codeandcandle
🎁 Free trading Discord community
bit.ly/TehThomas
🥇 My Preferred Exchange - 20% cashback
bit.ly/BloFin20
💎 Free Signals
t.me/codeandcandle
🎁 Free trading Discord community
bit.ly/TehThomas
🥇 My Preferred Exchange - 20% cashback
bit.ly/BloFin20
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.