A strong impulsive move from the $62.736 demand zone has led the price to currently move within a corrective downward channel. This structure does not indicate a completely bearish main trend, but rather a retracement phase following the impulsive move... The $66.444 level acts as a weak support in the short term (Weak Support). Due to liquidity below this level, a sweep is likely, and the price may pull back toward the $65.451 FVG (Fair Value Gap) region. Since this area also confluences with the lower band of the channel, it could serve as a strong reaction point... A strong reaction from the $65.451 region could cause the price to break above the upper band of the channel and move toward the $69.104 supply level. If a clear break below $65.451 occurs, the next high-probability target for the price will be the main demand zone at $62.736...
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A strong impulsive move from the $62.736 demand zone has led the price to currently move within a corrective downward channel. This structure does not indicate a completely bearish main trend, but rather a retracement phase following the impulsive move... The $66.444 level acts as a weak support in the short term (Weak Support). Due to liquidity below this level, a sweep is likely, and the price may pull back toward the $65.451 FVG (Fair Value Gap) region. Since this area also confluences with the lower band of the channel, it could serve as a strong reaction point... A strong reaction from the $65.451 region could cause the price to break above the upper band of the channel and move toward the $69.104 supply level. If a clear break below $65.451 occurs, the next high-probability target for the price will be the main demand zone at $62.736...