SELL setup following the short-term bearish trend, with entry ar

1. Technical Pattern

The market is forming a Double Top pattern around the 3,700 level.

After breaking the neckline (previous support, now turned resistance, marked in blue), the price is retesting this area.

This confirms a potential bearish continuation.

2. Support & Resistance

Key Resistance: 3,690 – 3,705 (neckline area after the breakdown).

Near-term Support: 3,670 (current retest zone).

Major Support: 3,615 – 3,625 (red zone below, aligning with previous lows and accumulation area).

3. Price Scenarios

If the price fails to break above 3,690 – 3,705, there is a high probability of dropping toward 3,620 – 3,625.

On the other hand, if the price closes above 3,705 on H1/H4, the bearish setup fails, and the market could resume its bullish trend.

4. Trading Implication

This is a SELL setup following the short-term bearish trend, with entry around 3,685 – 3,695.

Target: 3,620 – 3,625.

Stop Loss: above 3,710 (to avoid a false breakout).