Trend exhaustion - On the verge of a massive breakdown!

22 de jan.

Previously, the price managed to break above the resistance zone, only to fall back down quickly, signaling a lack of strong bullish momentum. Currently, the price teeters on the edge of both the trend support line and the support zone. Should the price dip below this critical level (40.3k), we're likely to see a more pronounced downward movement. Additionally, the presence of the CME gap just beneath the support zone further increases the likelihood of a breakdown. Considering the ongoing conflicts in the Middle East, I expect these factors to contribute to a more substantial downturn in the market.
Additionally, it's important to note that many major stocks have reached overbought levels. This suggests that their prices may have peaked, significantly increasing the probability of a forthcoming reversal.

23 de jan.

Nota

The CME gap has been filled!
There are still open CME gaps at around the 20k level!