The overall structure is bearish (a clear sequence of lower highs and lower lows).
The recent upward movement is only a correction, not a trend reversal.
The price remains below the major resistance areas, keeping control in the hands of sellers.
🧠 The main concept (defined areas)
Minor corrective resistance (≈ 72,500 – 72,800):
Price interaction here is perfect → classic selling area.
Supply area (≈ 73,700 – 74,800):
Strong rejection is expected if the price reaches this area.
The sudden drop from resistance confirms active selling.
📍 Key levels
Resistance:
72,800 (rejection during the day)
73,700 – 74,800 (major supply)
Current price: ~70,800
Bearish target:
70,300 (first target) 🎯
69,600 – 69,200 (liquidity area / extended target)
📈 Trade direction
Direction: bearish continuation
Preferred setup:
Sell on pullbacks to resistance
Or continued selling below 70,300 after confirmation
Invalidation: Clean close for 15 minutes above 72,800
⚠️ What to watch for
If the price fails to break 70,300, expect a short-term range.
Strong bullish acceptance above 72,800 will weaken the bearish idea.
🧾 Summary
The bearish trend continues + pullback to supply + sharp rejection
➜ High-probability bearish continuation scenario