The green resistance line has been respected in the past which indicates a potential drop in pricing. Confluences: -RSI exceeds the 70 level showing that it is most likely to come back down. -2 long wick candles at the green resistance level. - a large bearish engulfing candle followed by... -... a retest and a rejection. -when scaled down to the 4 hour time frame the candles crossed the 8 MA ensuring following candles stay below it.
In the past when price tested that level it went back down to the support level as a very powerful bearish trend.
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