THURSDAY
27-JUN
Price reached the weekly sell zone y'day and sold off during the late hours, rejecting the range EQ as well.
It's too early to suggest a long term correction is on the way.
If profit taking of longs is taking place, price needs to consolidate around the current levels so that more orders get filled.
This week is the end of Q2 and it's reasonable to expect that some longs will be closed.
On the Daily, price took out Y low, thus taking out all late buyers from y'day.
Further sell LQ could be found below TUE low.
On LTF, price reacted from the H4 zone that caused the break of the last weekly high.
It's possible that buyers are stepping in at these prices and could push price towards the range EQ ($13,000) once again.