$2Z
A sharp downward move was followed by a period of weak consolidation
Despite timid attempts by buyers to push the price higher, the negative crossover of key moving averages forms a solid resistance wall, preventing any proper recovery
The most likely scenario is further downside; the current buying momentum lacks sufficient liquidity to break through the upper resistance lines
$2Z
Furthermore, momentum indicators remain in oversold territory without any clear signs of a reversal, reflecting complete control by the sellers
Any current bounce is nothing more than a 'dead cat bounce' to retest resistance, and entering long positions at this stage carries high risk unless we see a decisive breakout backed by high trading volume that alters the current market structure
$2Z
#2Z #Market_Update
A sharp downward move was followed by a period of weak consolidation
Despite timid attempts by buyers to push the price higher, the negative crossover of key moving averages forms a solid resistance wall, preventing any proper recovery
The most likely scenario is further downside; the current buying momentum lacks sufficient liquidity to break through the upper resistance lines
$2Z
Furthermore, momentum indicators remain in oversold territory without any clear signs of a reversal, reflecting complete control by the sellers
Any current bounce is nothing more than a 'dead cat bounce' to retest resistance, and entering long positions at this stage carries high risk unless we see a decisive breakout backed by high trading volume that alters the current market structure
$2Z
#2Z #Market_Update
