• Current Price: $2,592
• Trend: Attempting recovery after a major pullback.

🔑 Key Observations:

1. Major Resistance Levels:
   • $2,800 – $3,200: Strong supply zone with multiple past rejections.
   • Significant congestion below $4,000, which capped previous bull runs.
2. Immediate Support Levels:
   • $2,558 (first level support—near-term stability).
   • $2,535
   • $2,403
   • Stronger support sits at:
     • $2,275 (volume cluster + structural).
     • POC: $1,642—This is the historical Point of Control where most trading activity has occurred.
3. Bearish Risk Levels (Downside Targets):
   • If the current bounce fails, price could revisit:
     • $1,600
     • $1,200
     • Extreme bear case: sub-$1,000 zone (unlikely unless a market-wide crash).
4. Chart Patterns:
   • Multiple M-shaped double tops and W-shaped double bottoms suggest a volatile but well-respected pattern structure.
   • Current recovery is from a higher low compared to previous major lows (positive for bulls).
5. TD Sequential & Elliott Wave:
   • Several TD 9s and 13s are visible, signaling potential exhaustion in both directions.
   • The current upward move looks like it could be Wave 3 or Wave 5, but still within a broader corrective context.
6. Fibonacci Levels:
   • Fib retracements show key levels aligned with historical price congestion zones.
   • The risk of a move back towards 61.8% retracement (near $1,200–$1,600) is still present unless bulls reclaim higher levels.
7. Volume Profile:
   • Heavy accumulation noted between $1,500 – $2,200.
   • Above $2,600, there’s less volume resistance, allowing faster upward movement if broken.
8. Moving Averages:
   • Price is currently:
     • Slightly above or testing the 50-week MA.
     • Below the 100-week MA and well below 200-week MA.
   • These MAs could act as dynamic resistance unless convincingly broken.

📈 Scenarios Ahead:

📌 Summary Takeaways:

✅ Bulls need to reclaim $2,800–$3,000 to signal a stronger uptrend continuation.
✅ Losing $2,275–$2,400 could open up risk towards $1,600–$1,200.
✅ Macro-level resistance near ATH zones (~$4,000) is still far off but will be the next big challenge.