Market Structure: Trendline Support Breakdown: The price has moved below a key trendline support, indicating a potential shift in momentum towards the downside.
Forecast: Sell Opportunity: The breakdown suggests weakening buying pressure, and sellers may take control, leading to further declines.
Key Levels to Watch: Entry Zone: After confirmation of the breakdown or a retest of the broken trendline acting as resistance. Risk Management: Stop Loss: Placed above the broken trendline or recent swing high to minimize risk. Take Profit Zones: Focus on upcoming support levels or price zones identified through Fibonacci extensions.
Market Sentiment: Bearish Bias: Sustained movement below the broken trendline indicates a bearish outlook, with sellers likely dominating the trend.