Price recently pulled back from all-time highs near 54,700 and dropped directly into a key hourly demand/support block (~53,650 – 53,770). This area previously acted as a strong breakout zone on August 4th, making it a prime candidate for buyers to step back in.

We are seeing early signs of a bullish rejection and stabilization off this support zone. As long as price holds above the local low, the overall uptrend remains intact.

Trade Parameters:

Direction: Long / Buy

Entry Price: Current Market Range (~53,880 – 53,900)

Stop Loss (SL): 53,388 (Below recent structural swing low and support zone)

Take Profit (TP): 54,532 (Targeting previous lower high / liquidity pool before the ATH)

Risk-to-Reward Ratio (RR): ~1.7:1

Key Notes & Management:

Watch lower timeframe (5m/15m) market structure to confirm sustained buyer volume before entering fully.

Consider moving Stop Loss to breakeven once price reclaims 54,200.