We see this HTF supply zone that we've been rejecting off of and creating LTF liquidity for a deeper demand grab.
Essentially sellers are setting up for a push below the $48 neckline - to bring new buyers in for a potential HTF break of $55. We go down, to go further up. Right now, sellers are driving price up in order to add to our seller pool and bring price further down.
Looking for confirmations of rejection and selling volume to enter shorts here.
Happy Trading :)