WEDNESDAY
5-JUN
Price barely broke below the weekly low and rejected.
This weekly low was taken on Bitmex and the futures market, while Bitfinex was not.
On the Daily, price reacted from a D1 buy zone, following the stop run and is now rallying.
The closest upside LQ that price will target next is above y'day's high.
However, LW low could provide some resistance on the way.
On LTF, price is targeting the LQ from today's asian range.
Just above that is LW low and the H4 sell zone that caused the latest drop and the weekly stop run.
Shorts could be considered around that zone but could be risky since price reacted from a Daily zone and took all the nearby HTF sell LQ.
It may not have many reasons to continue to drop further.
The only logical reason for another push lower would be the gap fill in the futures market.
Another reason would also be to take out the weekly low in Bitfinex.
This gap is visible on H4 and lower time frames.