Market Analysis: Bearish Scenario Unfolding ๐จ
๐ Current Overview: The market is showing a clear bearish pattern after facing rejection in the 3,700-3,650 USDT supply zone (red zone). Prices have been unable to sustain higher levels, creating a potential lower-high formation.
๐ก Key Observations:
Supply Zone Rejection: The red zone around 3,700 acted as a strong resistance, leading to a significant sell-off.
Demand Zone Retest: The price temporarily found support in the 3,330-3,350 USDT demand zone (green box). However, momentum remains weak.
Double Wave Projection: A potential retracement to the supply zone might occur before a larger bearish continuation towards 3,150 USDT or lower.
๐ฎ Possible Scenarios:
A relief rally back into the red resistance zone, which could attract more sellers.
Breakdown below the green demand zone could confirm further downside, signaling a target of 3,000-3,150 USDT.
๐ What to Watch:
Reaction around the green demand zone: Will buyers defend or give way?
Volume patterns: Are sellers dominating the market?
Stay cautious and plan your trades wisely! ๐ก๏ธ