Market Structure Analysis
Trend Overview:
The market initially moved bullishly, breaking structure to the upside (noted by BOS near the mid-chart).
This was followed by a Change of Character (CHoCH), suggesting a potential shift in momentum from bullish to bearish.
The price then moved into a clear downtrend, confirmed by successive Breaks of Structure (BOS) to the downside.
Supply & Demand Zones:
Supply Zone: Around 3,400–3,445 — This is where aggressive selling began after the top. Strong reaction zone.
Demand Zone: Around 3,255–3,270 — Price found strong buying interest here and reversed upward.
Current Price Action (as of the latest candle):
Price is attempting a pullback toward the lower end of the green supply zone (~3,330–3,340).
Ichimoku cloud shows price is trying to re-enter a bullish short-term zone but facing resistance.
🧩 Key Technical Highlights
Break of Structure (BOS):
Several BOS points confirm bearish continuation.
Latest BOS on the right confirms bearish dominance before a slight recovery.
CHoCH (Change of Character):
The CHoCH near the center marks the moment the trend transitioned from bullish to bearish.
Current Outlook:
A pullback to the green zone (around 3,330) is likely before a possible continuation to the downside, unless the price breaks and holds above that zone.
🔮 Potential Scenarios
Scenario 1: Bearish Continuation
If price gets rejected at the green zone (~3,330–3,340):
Expect a move back down to the demand zone (~3,260–3,270).
Likely bearish momentum continuation.
Scenario 2: Bullish Breakout
If price breaks and holds above the green supply zone:
Potential retest of 3,360–3,380.
Structure might flip bullish again depending on volume and breakout strength.
Trend Overview:
The market initially moved bullishly, breaking structure to the upside (noted by BOS near the mid-chart).
This was followed by a Change of Character (CHoCH), suggesting a potential shift in momentum from bullish to bearish.
The price then moved into a clear downtrend, confirmed by successive Breaks of Structure (BOS) to the downside.
Supply & Demand Zones:
Supply Zone: Around 3,400–3,445 — This is where aggressive selling began after the top. Strong reaction zone.
Demand Zone: Around 3,255–3,270 — Price found strong buying interest here and reversed upward.
Current Price Action (as of the latest candle):
Price is attempting a pullback toward the lower end of the green supply zone (~3,330–3,340).
Ichimoku cloud shows price is trying to re-enter a bullish short-term zone but facing resistance.
🧩 Key Technical Highlights
Break of Structure (BOS):
Several BOS points confirm bearish continuation.
Latest BOS on the right confirms bearish dominance before a slight recovery.
CHoCH (Change of Character):
The CHoCH near the center marks the moment the trend transitioned from bullish to bearish.
Current Outlook:
A pullback to the green zone (around 3,330) is likely before a possible continuation to the downside, unless the price breaks and holds above that zone.
🔮 Potential Scenarios
Scenario 1: Bearish Continuation
If price gets rejected at the green zone (~3,330–3,340):
Expect a move back down to the demand zone (~3,260–3,270).
Likely bearish momentum continuation.
Scenario 2: Bullish Breakout
If price breaks and holds above the green supply zone:
Potential retest of 3,360–3,380.
Structure might flip bullish again depending on volume and breakout strength.
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✅4-6 signals daily 💯💯
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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.