False breakout confirmed
2024-10-10

At region (a), the excess is relatively small, indicating that seller exhaustion isn't very strong, which led to the current situation at region (b), where the buyers' initial breakout was weak, and sellers responded swiftly. This suggests a false breakout.

It’s best to wait and see how the price behaves around the POC at 544. If the price stays above the POC and we see significant bullish patterns, we may head upward. However, if it breaks below the POC, further downward movement is likely.