First of all we need to consider that that we see on the chart is quite different....
From what I can see in the weekly time frame are as follows
1) a shift in market structure to the bear side how to I know this there was a low taken out prior to bullish push that happened recently to raid stops, grab liquidity and push price to a fresh level of supply
There are conditions to this level now since it has been tested twice....if market will still respect this level then price should not go beyond before the fall but if it does there is another fresh zone above the zone which a speculate a possible price turn to be around the 8400 level( a retest of this level)
2) the triangle has been respected for some time now and at current price level we expect a small push to the upper trend line which confluences with the fresh supply zone before we can expect a significant sell of to clear the low made in 2019 at the low there was a rapid shift in price creating an imbalance in price Ay that zone hence I am expecting market of fill this zone ie(3700-3800 level)before another strong bull run to around 14000-16000
From what I can see in the weekly time frame are as follows
1) a shift in market structure to the bear side how to I know this there was a low taken out prior to bullish push that happened recently to raid stops, grab liquidity and push price to a fresh level of supply
There are conditions to this level now since it has been tested twice....if market will still respect this level then price should not go beyond before the fall but if it does there is another fresh zone above the zone which a speculate a possible price turn to be around the 8400 level( a retest of this level)
2) the triangle has been respected for some time now and at current price level we expect a small push to the upper trend line which confluences with the fresh supply zone before we can expect a significant sell of to clear the low made in 2019 at the low there was a rapid shift in price creating an imbalance in price Ay that zone hence I am expecting market of fill this zone ie(3700-3800 level)before another strong bull run to around 14000-16000