Tech2trader

According to my personal analysis I observes a clever bearish trend here.Read for more detailsNote: This post is for educational purpose only. I am not a certified trader or a financial advisor1. Key Observations on the ChartResistance Zone:The price is near $95,300, which is a resistance level (red zone). The chart shows that the price is struggling to go above this level. This often indicates that sellers are stronger than buyers at this point.Support Zones:Below the current price, there are green zones that represent support levels. These are areas where the price may stop falling if it moves downward because buyers may step in.Indicators:The Exponential Moving Averages (EMA) (blue and yellow lines) are currently below the price, showing that the market is still bullish for now.The CCI (Commodity Channel Index) at the bottom of the chart is coming down from a high level, which could mean that the buying pressure is reducing.---2. What Does This Mean?If the price fails to break above $95,300 (the red zone), it is likely to go down toward the green zones (support levels).The red arrows drawn on the chart suggest the expectation of a bearish movement (price falling) toward the lower green zones if resistance holds.---3. Possible ScenariosScenario 1: Bearish Trend (Price Falls)The price fails to break the resistance ($95,300).It starts to move downward toward the first support zone around $94,400–$94,300.If this level is broken, the price could fall further to the second support zone near $93,000.Scenario 2: Bullish Trend (Price Rises)If the price breaks above the resistance at $95,300 and stays above it, the market might continue upward toward $96,000 or higher.---4. What to Watch For?Price Behavior Around $95,300:If the price forms long wicks (indicating rejection) or red candles, it’s likely to fall.If the price closes strongly above this level, it might continue upward.Support Zones:Watch if the price holds or breaks the support levels below ($94,400 and $93,000).---ConclusionThe chart currently suggests a bearish possibility because:1. The price is facing resistance.2. Momentum (CCI) is reducing.3. The drawn arrows show an expected downward move.However, you should wait for confirmation from the next price movements before making any decisions.