🕯️ 4H Candle Summary
Parameter Value
Open $3,719.41
Close $3,650.40
High $3,720.10
Low $3,646.72
Body Bearish (closed below open)
% Change –1.86%
Volume 645,083.76 ETH
🔍 Technical Reading
🔴 Clear bearish reversal candle (engulfing type)
• Forms after a strong prior uptrend
• Closed below open with a dominant bearish body and minimal lower wick → shows real seller conviction
• The high ($3,720) aligns with technical rejection at the 0.5–0.618 Fibonacci zone — a textbook pullback within a bearish structure
📊 Indicators
✅ RSI(6) = 63.10 and declining
• RSI is curving down from overbought territory
• Confirms weakening bullish momentum
✅ MACD = 33.78
• Still positive, but histogram shows clear deceleration
• MACD line is beginning to curve downward → possible bearish crossover incoming
✅ Bollinger Bands
• Strong rejection from the upper band (Bollinger UP ~ $3,698)
• Candle closes near the middle band → signals momentum shift
🔻 Rising Volume
• Volume is higher than during the previous pullback
• Confirms institutional validation of the rejection — not just a weak correction
🧱 Key Structural Zones
Zone Significance
$3,688–$3,720 Validated rejection zone (0.5–0.618 Fib)
$3,609 Immediate support, likely to be tested
$3,557 Bearish confirmation zone
$3,480–$3,460 Target if previous support breaks
$3,352 Structural base of the rebound (last low)
🌎 Inter-Session Context
• Asian session: pushed the rebound with strength
• European session: showed exhaustion, no continuation
• U.S. session: confirmed bearish rejection and sustained selling pressure
🧠 Macro Intuitive Reading
• This move aligns with a classic technical pullback in an unbroken macro downtrend
• The rebound helped “relieve” indicators (MACD, RSI) and attract liquidity at higher levels
• Strong reaction at this zone with volume suggests large players are distributing or initiating shorts
• No break in the macro bearish structure — only a technical retracement with confirmed rejection
📌 Strategic Conclusion
✅ Bearish reversal confirmed on 4H chart
• Strong rejection candle
• RSI turning down from overbought
• MACD losing momentum
• Volume supports the shift
🔽 Technical Outlook
• High probability of a bearish candle sequence toward $3,609 and $3,557
• If that area fails, price could extend to $3,460–$3,480, where a continuation or major rebound decision may occur
