Classic chart, let's demonstrate the key position $THE

This position is crucial, I just noticed it after a friend in the comments asked me about my short-term view.

Previously, there was a hammer line signaling a stop in the decline, which is fine, but the problem lies just above the current price, which is a very critical resistance position.

How is it critical? It's the rebound level of the Fibonacci decline segment + small structure on the chart + resistance level of the downtrend, which resonates directly.

This means that if this position breaks, the trend will reverse, and a new wave of upward movement will continue.

If this position does not break, then the downtrend will continue, and to come back up next time, it will require some events or a market stimulus.