March 5

Discord access link: https://discord.gg/UPbu6PZFDp

Sellers remain in control as they successfully defended the 5881-5998 Balance Zone, keeping price below yesterday’s lower distribution and rejecting any attempts to trade higher. Additionally, value migrated lower, confirming the bearish momentum.

• Today’s high was set just below the 5881 BZ level, reinforcing this as a key resistance area moving forward. As long as price remains below 5881, sellers will continue to have the advantage.

• The most bearish scenario would be continued trading below 5823, leading to a breakdown toward 5764, followed by potential continuation to 5705.
  

• For buyers, the first sign of strength would be reclaiming 5848, which was Friday’s low (last week’s low). If buyers can hold above 5848, it could trigger a move toward 5881. However, reclaiming 5881 would be required to shift momentum toward balance or a potential reversal. I will be watching 5848 and 5881 closely at the open. As long as we stay below 5881, I will favor shorts, while a reclaim above 5848 could offer a bounce opportunity.

Bullish Scenarios:

• Longs above 5848 targeting 5881.
  

• Longs above 5881 targeting 5909-5910.

Bearish Scenarios:

• Shorts below 5823 targeting 5764.
  

• Shorts below 5764 targeting 5705.
  

• Shorts below 5705 targeting 5664-5647.