The market maker has created a wide ranging zone to hunt liquidity. With each drop, it gives traders the impression that sellers have stepped in, but the structure remains bullish on the hourly.

A bearish head and shoulders pattern is also visible (marked in light purple), but in our view, such patterns are ineffective in a bullish structure and mainly serve as liquidity traps.

There is also a small liquidity pool above, where retail traders place their stops behind the wicks, leading to liquidity buildup.

We have marked the zone where strong, real sell orders are located.

As long as the demand zone holds, price can move toward the targets and the marked area.

With all that said, don’t forget risk management it's more important than correctly predicting market direction.

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