I am following the 15-minute chart of $BLUR , and so far there is no real improvement in the structure. The breakdown last week was below 0.03207, and since then the price has been continuously grinding at lower levels. Buyers still seem to be passive.
BLURUSDT (Perp)
๐ฒ 0.03198 | -3.38%
๐ด Market Bias: Bearish
The price is still trapped below the resistance zone of 0.03310 โ 0.03331
If there is a pullback in this area and rejection occurs, the short side looks cleaner.
As long as 0.03331 is not reclaimed, the trend bias will remain to the downside
๐ข Relief Bounce Scenario
Strong support area: 0.03207
If a reversal is confirmed on the lower time frame from here, a quick bounce to 0.03261+ is possible
This will only be a counter-trend move โ patience and confirmation are essential โ ๏ธ
๐ Final Thoughts Abhi momentum is clearly under the control of sellers. Bulls need a strong break & hold above 0.03331 to prove their case.
Before that, every bounce will be considered a sell opportunity โ shorts still have a higher probability ๐ป๐ฅ