The current recent market structure is showing Lower Highs (LH) and Lower Lows (LL) — indicating a downtrend.
However, if price moves up first and taps the 25,000 level, it will break the previous high and form a Higher High (HH).
This would signal a Change of Character (CHoCH) or Market Structure Shift (MSS).
If that happens, the trend bias could shift to the upside, and it would be better to wait for a pullback and look for a long entry.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.