The four-hour candlestick completely engulfs the previous bullish candlesticks, and I think this is a bad signal.
If the price doesn't rise tonight, this upward movement is basically over, and I will primarily consider shorting next.
The price is now hovering at the top of the consolidation range. I suspect that the upward breakout at 2786 is false, and around 2820 is also a good position for shorting. One can try to short near 2786 or 2820, setting the stop-loss above 2845, with the target to see 2733.
If the price pulls back later, I think 2689 and 2656 are critical levels. These were the low points reached during the previous sell-off; as long as the price holds above these two levels, I believe it will bounce back. If it truly pulls back to these levels, I will consider adding to my position to buy.
The core points remain unchanged:
A bearish signal has appeared, unless the price can rebound tonight.
I believe the current high is a false breakout meant to lure buyers, which is a good shorting point, with a stop-loss targeting 2733.
If there is a pullback, 2689 and 2656 are important support levels; holding above these levels presents an opportunity to add to long positions.
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