#FOLKSAlert
The price is likely to FALL further, as momentum and structure both favor sellers. Unless a strong bullish reversal appears right at or below 7.379, the path of least resistance is towards 4.833.
- If the price sharply sweeps below 7.379 and immediately snaps back above with a strong bullish candle and lower timeframe reversal signals (such as bullish divergence or a clear double bottom), a quick long scalp toward 8.166–8.569 could be possible. Confirmation: look for a pin bar or bullish engulfing on the 15m timeframe with increasing volume.
- Main scenario remains bearish—if there is no convincing bullish rejection at these lows, look to join shorts on a break/retest of 7.379, targeting 4.833. Confirmation: wait for a bearish continuation pattern or a breakdown candle with no immediate reversal signal.
- If the price suddenly rallies above 8.569 and holds, re-evaluate for a potential shift back toward the 11.499–13.106 area. Only a strong reclaim of those levels would turn my bias bullish.
- Place your stop-loss at the nearest swing for both setups, and avoid trades without clear confirmation!
