After a significant growth, price has started to do some rest and it seems like it is making a reversal pattern.
There is a support zone around 1891 which has pushed the price to the upside in the past.
If price breaks the yellow support zone and closes a bearish candle below this level, I expect a drop to 1877 which was a resistance level before and now has turned into a support level. In the case of a downside breakout on 1877, the next target would be around 1850
On the other side, if price retests 1877 and got rejected from it, we can expect the drop as a downside retrace and then a beginning of a rise towards the last high around 1913
There is a support zone around 1891 which has pushed the price to the upside in the past.
If price breaks the yellow support zone and closes a bearish candle below this level, I expect a drop to 1877 which was a resistance level before and now has turned into a support level. In the case of a downside breakout on 1877, the next target would be around 1850
On the other side, if price retests 1877 and got rejected from it, we can expect the drop as a downside retrace and then a beginning of a rise towards the last high around 1913