Price on the daily TF has been on as bullish trend, extremely. Yet we are at a recent HH as well as a level of resistance. Not being OFFICIALLY broken only TESTED. so that means we are waiting for a pullback/ counter trend which we see right now. With the daily being bearish at the moment i would project seeing a cleaner trend on a smaller TF, so H1.
On the H1 price had created a level of support (Black Horizontal Line), in which price created a LH. As wellbeing in a daily exhaustion area. we see the transition from buyers to sellers. Once price got back to that recent Support. We see that it got tested (Bearish candle with an Engulfing variation) then two bearish candles broke below the support level, meaning a break of support. Since the daily had so much momentum, I would project price coming to that 23.6% to continue that bearish momentum to -27%.
IF 23.6% is broken Then 50% will be my next target to look for sells. Since confluence is being shown as well with 1. Break and retest, 2. exhaustion, 3. 50%. BEING PATIENT