$LUMIA — sellers are still in control.
A descending structure with lower highs and lower lows is forming on the hourly chart. Weakness in BTC is adding further pressure.
The nearest demand zones are 0.10054 and 0.09585. Price may test or briefly break below them before rebounding.
For a short position, a weak bounce toward 0.11087–0.12144 followed by confirmation of a downward reversal could be of interest. Targets are 0.10054, 0.09585, and 0.07958.
A sustained move above 0.11858 would call the bearish scenario into question. Since the higher timeframes are bullish, entering without confirmation is risky.
A descending structure with lower highs and lower lows is forming on the hourly chart. Weakness in BTC is adding further pressure.
The nearest demand zones are 0.10054 and 0.09585. Price may test or briefly break below them before rebounding.
For a short position, a weak bounce toward 0.11087–0.12144 followed by confirmation of a downward reversal could be of interest. Targets are 0.10054, 0.09585, and 0.07958.
A sustained move above 0.11858 would call the bearish scenario into question. Since the higher timeframes are bullish, entering without confirmation is risky.