This looks like a complex structure and with demand supply on both sides, it doesn't look like it's going to be easy.
There's plenty of unmitigated demand below so we might be seeing price trying to start mitigate but we have also not broken clear structure imo as we have not taken any new highs since the beginning of Feb.
For now I would assume a bearish bias as 4h has been going down but should price respect the current demand and break above the 12225 area, I will have a bullish bias.
There's plenty of unmitigated demand below so we might be seeing price trying to start mitigate but we have also not broken clear structure imo as we have not taken any new highs since the beginning of Feb.
For now I would assume a bearish bias as 4h has been going down but should price respect the current demand and break above the 12225 area, I will have a bullish bias.
