Short on confirmed failure to pass this level

2021年9月4日

Overbought, though this doesn't mean much does indicate and over extended price action ({RSI} see 4hr Chart).

• Secondly let's talk about basic support and resistance, here as can be seeing we are also at critical levels. it's only evident for us to expect a pull back at these levels but as you should know, it doesn't work like that.
  

Also, it is trading within a channel so you can expect it to retest the bottom of channels. Yet, a catalysts would have been in dire need for such to happen as: the bottom of channel is quite distant from these levels and would take probably a few weeks or more to materialize if such were to occur.

Finally, always wait for confirmations so nothing is wrong with waiting another day for a confirmed rejection and enter on break of structure only; don't just jump in because it's looking bearish that's how we lose money..

All the best to you.
regards, frugal trader