"Did the bears just get trapped in AI? After a bearish rejection at the Order Block, price is showing signs of strength! Could this be a bullish reversal? ICT principles suggest a potential shift in momentum.
Disclaimer: Not financial advice. Do your own research."
ICT Analysis of the AI/USDT Chart:
Daily Open Level (DOL): The purple line at 1.1000 represents the Daily Open Level. This is a key level derived from the opening price of the current day on the daily timeframe. It can act as a significant resistance or support level.
Order Block (OB): The green box around 0.6584 represents an Order Block. This is an area where significant buying or selling occurred in the past. Price often returns to test these areas. In this case, price has already returned to test the OB and has bounced off it.
Potential Scenario: Given the price action below the DOL and the rejection at the OB, the chart suggests a potential bearish bias. Price might retest the OB or even move lower towards the 0.6584 level.