Price has recently tested and rejected off the 2970 major supply zone, where the 0.618 fib level lies as well.
Along it's way up to the price level, it has respectably rejected off the previous ascending trendline, making this a breakout and retest(multiple)attempts,
failing to make a strong push above the trendline and invalidate it, this does validate a more probable huge selling wave incoming
it has also broken out of 2 ascending trendlines, indicating more and more interested sellers.
It's likely that price will come back up again for a retest
Along it's way up to the price level, it has respectably rejected off the previous ascending trendline, making this a breakout and retest(multiple)attempts,
failing to make a strong push above the trendline and invalidate it, this does validate a more probable huge selling wave incoming
it has also broken out of 2 ascending trendlines, indicating more and more interested sellers.
It's likely that price will come back up again for a retest