As anticipated in our previous update, the market followed a bearish trajectory after rejecting from the 70k-71k resistance zone. The price action confirmed our expectations with a short-term consolidation around the 66k level, followed by a move upward to take liquidity above the 70k level. After this liquidity grab, the market began to fall, aligning with our forecast.
Currently, the market is expected to consolidate between 67k to 69k in the short term. Traders should note that there is still significant liquidity above the 72k level, which might attract price action in the future. However, caution is advised as the market may exhibit volatile movements within this range.
