The bullish channel has broken, and the price is now respecting a downward channel. Lower highs and lower lows confirm short‑term bearish momentum, with sellers still active after FOMC.
Key Levels (Intraday)
Key Levels (Intraday)- Resistance (Sell Triggers):
• $1,645–$1,648 → Prior support turned resistance.
• $1,655–$1,658 → Stronger supply zone. - Support (Targets / Bounce Areas):
• $1,635–$1,638 → Intraday support; break here accelerates downside.
• $1,628–$1,630 → Next liquidity pocket.
• $1,620–$1,622 → Deeper support, possible day’s low.
Strategy for Today
- Bias: Short‑term bearish unless price reclaims above $1,655.
- Entry Ideas:
• Look for shorts on pullbacks into $1,645–$1,648 with bearish confirmation.
• If $1,635 breaks with volume, continuation shorts toward $1,628 are valid. - Risk: Stops above swing highs/outside the channel. Keep risk fixed.
- Countertrend Longs: Only if $1,628 holds with strong bullish rejection + RSI divergence.
Mindset Reminder
“Anything can happen.” Stay flexible—don’t chase extended moves, and adapt if the market flips.
Focus: Short setups near resistance and continuation plays on breakdowns.
