Market Structure: 🔻 Bearish
The H4 chart shows a clear sequence of lower highs and lower lows, indicating that sellers remain in control.
Key Levels
- Resistance 1: 4268
- Resistance 2: 4370
- Major Resistance: 4546
- Current Support: 4152
- Major Support: 4058
Price Action
- Price recently rejected the 4268 resistance zone and dropped sharply.
- The market is currently testing the 4152 support area.
- A break below 4152 could open the way toward 4058 support.
- Buyers need a strong recovery above 4268 to regain short-term bullish momentum.
Trading Scenarios
Bearish Setup (Preferred)
- Sell below 4152
- Targets: 4100 → 4058
- Stop Loss: Above 4268
Bullish Setup
- Buy only after a confirmed H4 close above 4268
- Targets: 4370 → 4546
- Stop Loss: Below 4152
Conclusion
The overall H4 trend remains bearish. As long as price stays below 4268, sellers have the advantage. Watch 4152 closely—its breakdown would favor further downside toward 4058.
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