The breakdown from the 4Hr bearish pennant already happened.
Structure failed near the apex, and price slipped straight into the 600–605 demand zone.
🔻 If 600 Breaks Cleanly (4H close with volume)
Expect acceleration toward:
• 585–570 → Previous swing base
• 540–520 → Measured move completion zone
Once 600 gives up, liquidity below gets hunted fast.
🟢 If Bounce Builds Strength
For bulls to regain control:
• Reclaim 630–640
• Strong 4H close above descending trendline
• Hold above 640 as support
Only then momentum shifts toward:
• 660–670
• 690–710
Until that reclaim happens, upside is corrective.
Unless we see aggressive reclaim above 630, probability still favors downside continuation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
