So traders are watching this area here at 39261.03, aka 40K, to go long above it. It seems that bulls are motivated by the higher high and the higher low that they would want to buy all the time. From their viewpoint, this is an uptrend, and they are looking for the right dip or support level .

The thing is, that higher low is not actually a “higher low” in its place, it is just a low, because it did not break above 43717.55.

The price should be bullish towards this area (40984.22), but there is no certainty above it. This means bulls will be very unsure and agitated, and this is where patience is needed. Take only trades that qualify as a bullish setup.

As you can see, price behavior has no randomness. It follows a structure and it has rules within that structure, which at times can be manipulated. This formation, shown with the L (HL), is what causes divergences in oscillators. It is only to wait as it carries a very high risk.

For now, 31536.39 is the next target and 26247.98 is the bias.