10AUG2023 FCPOV23 1025AM Bearish condition, be conservative.
1. 1 HOUR: The major trend is bearish, and there has been a significant retracement in that major downtrend, indicating short-term buyer exhaustion relative to the major downtrend.
2. 5 MIN: Its condition is choppy, suggesting a balance between buyers and sellers.
Summary: The condition is slightly bearish. If the price reaches 3781 or 3742, the bearish condition will be reset. 3761 is a key level to watch. If the price love to stay around this level, plan for a short setup. I expect a quick outcome; otherwise, abort the mission.
2. 5 MIN: Its condition is choppy, suggesting a balance between buyers and sellers.
Summary: The condition is slightly bearish. If the price reaches 3781 or 3742, the bearish condition will be reset. 3761 is a key level to watch. If the price love to stay around this level, plan for a short setup. I expect a quick outcome; otherwise, abort the mission.