๐น Current Snapshot
Price: ~$117,200โ117,300 (โ1.3% today)
Trend: Bearish corrective structure with short-term bounce potential
๐ Key Technicals
CHOCH (Change of Character) formed after correction.
Trading inside previous Order Block (OB).
Upside Scenarios:
Test first OB โ retrace.
Extend into the second OB near 50% FVG level before the pullback.
Bearish Target: Broader outlook remains bearish, aiming for predefined downside zones.
Invalidation Level: Break and close above $121,166 with strong bullish momentum = possible trend reversal.
๐ Market Outlook
Base Case: Short-term bounce toward OB/FVG before renewed downside.
Bullish Shift: Only confirmed if $121K+ is reclaimed decisively.
Risk: Rejection at OB = continuation lower.
๐ Summary
Short-term: Neutral / corrective with upward test likely.
Medium-term: Bearish bias unless $121,166 is broken.
Watch Zone: Order Block + FVG confluence for possible rejection or breakout trigger.