During the last 6 months bulls have had their hands full pushing prices consecutively higher shown by the rising price channel. Eventually their momentum waned off to warrant a breakout on the downside of the channel.
As the steam shifts from bulls to bears following the breakout, price action confirmation is key to join the seemingly beginning down trend especially on a lower time frame.
Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.