Price is trading in the red and is expected to reach new lows in the upcoming days. Could be attracted by the confluence area formed between the WL1 with the upper median line (uml) of the minor descending pitchfork.
Looks like that the minor rebound is completed, for now, price failed to retest the red uptrend line, signaling that the bulls are exhausted already. A rejection from the confluence area or from the WL1 will confirm another leg higher on the short term, but a valid breakdown will open the door for more declines in the upcoming weeks.
