Yesterday's candle, which closed as a bearish engulfing on the daily chart, reveals a first obstacle and a local high: $90,380.
This pause in the expansive movement presents us with two scenarios:
Formation of a lower highs and lower lows structure on the daily chart (loss of $87.3k): retracement/correction with a plausible target in the $80-82k area.
Immediate return of demand and a new higher high: continuation of the price discovery phase.
Note: Even in the case of a retracement, the primary structure does not turn bearish; it would simply be a pullback during a primary uptrend (completely natural from time to time).
To alter the primary structure, a loss of $67.8k, the origin of the breakout from the ATH, would be required.
What do you think?
By Gue22 🌐⚡🚀
