To be honest, there’s still strong bearish pressure on the higher time frames, especially on the weekly chart, which looks pretty drained.
That said, I’m still leaning bullish for now and see a possible rebound as long as we hold the current weekly lows around 0.069–0.078.
If we lose that zone, that’s where I’ll start looking for shorts.
On the bullish side, I’d like to see a breakout above the current 15M resistance around 0.09561. If that happens, the next focus would be a move back toward the weekly highs.
Keep these levels on watch and, as always, wait for confirmation before taking a trade.
Guys, the bearish setup on $EGLD looks ready. I’m seeing heavy selling pressure, and it’s completely wiping out the daily candle.
This kind of strong pressure doesn’t always lead to a small or short-term pullback. If sellers continue to dominate, it can easily develop into a bigger downtrend. So I’d stay cautious here and watch the price action closely.
Entry: losing marked support level with retest. Stop-loss: 5.39 TP: 4.80-4.50-4.00 and lower